The AZEK Company Inc. (NYSE:AZEK) CEO Sells $627,900.00 in Stock

The AZEK Company Inc. (NYSE:AZEK) CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $48.30, for a total transaction of $627,900.00. Following the transaction, the chief executive officer now owns 1,083,444 shares in the company, valued at approximately $52,330,345.20. The sale was disclosed in a filing with the SEC, which is available at this link.

AZEK Stock Down 1.3 %

AZEK opened at $47.29 on Friday. The AZEK Company Inc. has a fifty-two week low of $23.08 and a fifty-two week high of $50.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.67 and a current ratio of 2.99. The company has a fifty day moving average of $47.52 and a two-hundred day moving average of $38.04. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 59.86, a PEG ratio of 1.57 and a beta of 1.92.

AZEK (NYSE:AZEK) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. AZEK had a net margin of 8.57% and a return on equity of 9.61%. The company had revenue of $240.44 million during the quarter, compared to analysts’ expectations of $234.12 million. On average, research analysts expect that The AZEK Company Inc. will post 1.02 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley grew its position in shares of AZEK by 272.4% in the fourth quarter. Morgan Stanley now owns 3,973,475 shares of the company’s stock valued at $80,741,000 after purchasing an additional 2,906,460 shares during the period. Norges Bank acquired a new stake in shares of AZEK in the fourth quarter valued at about $44,418,000. Westfield Capital Management Co. LP grew its position in shares of AZEK by 5,090.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,168,290 shares of the company’s stock valued at $34,745,000 after purchasing an additional 1,145,780 shares during the period. BlackRock Inc. grew its position in shares of AZEK by 15.6% in the second quarter. BlackRock Inc. now owns 6,899,713 shares of the company’s stock valued at $208,992,000 after purchasing an additional 929,341 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of AZEK by 7.3% in the third quarter. Vanguard Group Inc. now owns 13,012,414 shares of the company’s stock valued at $386,989,000 after purchasing an additional 881,697 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AZEK. Stifel Nicolaus upped their price target on shares of AZEK from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Truist Financial upped their price target on shares of AZEK from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. B. Riley upped their price target on shares of AZEK from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Citigroup upped their price target on shares of AZEK from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, Stephens increased their price objective on shares of AZEK from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.84.

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.