Brown Financial Advisors Buys Shares of 6,401 The AZEK Company Inc. (NYSE:AZEK)

Brown Financial Advisors bought a new stake in shares of The AZEK Company Inc. (NYSE:AZEK) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 6,401 shares of the company’s stock, valued at approximately $270,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Maven Securities LTD acquired a new stake in shares of AZEK during the 2nd quarter worth about $211,000. Quarry LP boosted its stake in shares of AZEK by 733.7% during the 2nd quarter. Quarry LP now owns 2,968 shares of the company’s stock worth $125,000 after purchasing an additional 2,612 shares during the last quarter. Creative Planning boosted its stake in shares of AZEK by 44.4% during the 2nd quarter. Creative Planning now owns 6,557 shares of the company’s stock worth $276,000 after purchasing an additional 2,017 shares during the last quarter. Algert Global LLC boosted its stake in shares of AZEK by 16.5% during the 2nd quarter. Algert Global LLC now owns 100,763 shares of the company’s stock worth $4,245,000 after purchasing an additional 14,303 shares during the last quarter. Finally, Sea Cliff Partners Management LP boosted its stake in shares of AZEK by 2.8% during the 2nd quarter. Sea Cliff Partners Management LP now owns 390,172 shares of the company’s stock worth $16,438,000 after purchasing an additional 10,772 shares during the last quarter. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

AZEK Trading Down 0.5 %

AZEK opened at $46.46 on Thursday. The firm has a market capitalization of $6.76 billion, a P/E ratio of 45.55, a P/E/G ratio of 1.43 and a beta of 1.88. The firm’s 50 day moving average is $42.98 and its 200-day moving average is $44.92. The AZEK Company Inc. has a 52-week low of $25.03 and a 52-week high of $50.78. The company has a quick ratio of 2.11, a current ratio of 3.07 and a debt-to-equity ratio of 0.41.

AZEK (NYSE:AZEK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $434.40 million for the quarter, compared to analyst estimates of $396.89 million. AZEK had a net margin of 11.35% and a return on equity of 13.38%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 earnings per share. Analysts expect that The AZEK Company Inc. will post 1.05 EPS for the current fiscal year.

AZEK announced that its board has authorized a stock repurchase plan on Monday, June 17th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total value of $542,750.00. Following the completion of the sale, the chief executive officer now owns 1,024,444 shares in the company, valued at $42,770,537. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other AZEK news, Director Pamela J. Edwards bought 600 shares of the stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $41.70 per share, for a total transaction of $25,020.00. Following the completion of the purchase, the director now directly owns 8,708 shares in the company, valued at $363,123.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total transaction of $542,750.00. Following the sale, the chief executive officer now owns 1,024,444 shares of the company’s stock, valued at approximately $42,770,537. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AZEK. JPMorgan Chase & Co. decreased their price target on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Benchmark reissued a “buy” rating and issued a $55.00 target price on shares of AZEK in a research report on Friday, August 9th. Truist Financial decreased their target price on shares of AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Loop Capital decreased their target price on shares of AZEK from $58.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, DA Davidson cut shares of AZEK from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $57.00 to $44.00 in a research report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.24.

About AZEK

The AZEK Company Inc engages in the design, manufacturing, and selling of building products for residential, commercial, and industrial markets in the United States and Canada. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, such as decking, railing, trim and molding, siding and cladding, pergolas and cabanas, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, ULTRALOX, StruXure, and INTEX brands.