Jesse G. Singh Sells 15,000 Shares of The AZEK Company Inc. (NYSE:AZEK) Stock

The AZEK Company Inc. (NYSE:AZEK) CEO Jesse G. Singh sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $41.03, for a total value of $615,450.00. Following the sale, the chief executive officer now owns 868,765 shares of the company’s stock, valued at $35,645,427.95. This trade represents a 1.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

AZEK Price Performance

Shares of NYSE:AZEK traded down $0.28 during midday trading on Tuesday, hitting $40.08. 2,308,620 shares of the stock were exchanged, compared to its average volume of 1,737,035. The stock has a market cap of $5.76 billion, a P/E ratio of 40.48, a PEG ratio of 1.91 and a beta of 1.95. The company has a 50 day moving average price of $48.25 and a 200-day moving average price of $47.24. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31.

AZEK (NYSE:AZEK) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. On average, research analysts forecast that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

Analyst Ratings Changes

AZEK has been the subject of several analyst reports. Truist Financial upped their price target on AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Royal Bank of Canada increased their price objective on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. The Goldman Sachs Group raised their target price on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, December 12th. DA Davidson raised their target price on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Finally, BMO Capital Markets raised their target price on AZEK from $52.00 to $54.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.85.

Institutional Trading of AZEK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AZEK. Farther Finance Advisors LLC increased its position in AZEK by 183.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock worth $35,000 after purchasing an additional 487 shares in the last quarter. Equitable Trust Co. grew its holdings in AZEK by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 10,346 shares of the company’s stock valued at $484,000 after buying an additional 226 shares during the period. Covestor Ltd grew its holdings in AZEK by 18.8% in the 3rd quarter. Covestor Ltd now owns 2,758 shares of the company’s stock valued at $129,000 after buying an additional 436 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in AZEK by 2.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 49,208 shares of the company’s stock valued at $2,303,000 after buying an additional 1,382 shares during the period. Finally, Versor Investments LP grew its holdings in AZEK by 194.7% in the 3rd quarter. Versor Investments LP now owns 19,452 shares of the company’s stock valued at $910,000 after buying an additional 12,852 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

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.