Mattson Financial Services LLC Acquires Shares of 9,543 The AZEK Company Inc. (NYSE:AZEK)

Mattson Financial Services LLC acquired a new stake in The AZEK Company Inc. (NYSE:AZEK) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,543 shares of the company’s stock, valued at approximately $402,000.

A number of other large investors have also recently made changes to their positions in AZEK. ORG Partners LLC bought a new position in shares of AZEK in the first quarter valued at $35,000. Whittier Trust Co. bought a new position in shares of AZEK in the first quarter valued at $37,000. Versant Capital Management Inc lifted its stake in shares of AZEK by 5,452.2% in the second quarter. Versant Capital Management Inc now owns 1,277 shares of the company’s stock valued at $54,000 after buying an additional 1,254 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of AZEK in the second quarter valued at $90,000. Finally, Signaturefd LLC lifted its position in shares of AZEK by 32.7% during the second quarter. Signaturefd LLC now owns 2,157 shares of the company’s stock valued at $91,000 after purchasing an additional 532 shares in the last quarter. 97.44% of the stock is owned by institutional investors.

AZEK Price Performance

AZEK opened at $46.10 on Friday. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 45.20, a PEG ratio of 1.43 and a beta of 1.88. The company has a quick ratio of 2.11, a current ratio of 3.07 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $42.98 and a 200-day moving average price of $44.92. The AZEK Company Inc. has a twelve month low of $25.03 and a twelve month high of $50.78.

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

AZEK declared that its board has approved a share buyback program on Monday, June 17th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the company to buy up to 9.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 1,024,444 shares of the company’s stock, valued at $42,770,537. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Pamela J. Edwards acquired 600 shares of AZEK stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $41.70 per share, with a total value of $25,020.00. Following the completion of the purchase, the director now owns 8,708 shares in the company, valued at $363,123.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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. Corporate insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AZEK shares. Citigroup dropped their price target on shares of AZEK from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. JPMorgan Chase & Co. dropped their price target on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Royal Bank of Canada dropped their price target on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. UBS Group dropped their price target on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Stifel Nicolaus dropped their price target on shares of AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus 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.