Insider Selling: The AZEK Company Inc. (NYSE:AZEK) CEO Sells $542,750.00 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, 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 approximately $42,770,537. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AZEK Stock Performance

NYSE AZEK opened at $43.66 on Monday. The company has a current ratio of 3.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.42. The firm’s fifty day moving average price is $45.03 and its two-hundred day moving average price is $44.59. The AZEK Company Inc. has a 1 year low of $25.03 and a 1 year high of $50.78. The firm has a market capitalization of $6.35 billion, a P/E ratio of 42.80, a price-to-earnings-growth ratio of 1.37 and a beta of 1.88.

AZEK (NYSE:AZEK) last posted its quarterly earnings results on Friday, June 14th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. AZEK had a net margin of 10.66% and a return on equity of 12.02%. The firm had revenue of $418.41 million for the quarter, compared to analyst estimates of $416.79 million. As a group, research analysts anticipate that The AZEK Company Inc. will post 1.06 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of AZEK from $56.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. DA Davidson cut shares of AZEK from a “buy” rating to a “neutral” rating and reduced their price target for the company from $57.00 to $44.00 in a report on Wednesday, July 3rd. Benchmark assumed coverage on shares of AZEK in a report on Friday, April 19th. They issued a “buy” rating and a $55.00 price target for the company. Truist Financial reiterated a “buy” rating and issued a $57.00 price target on shares of AZEK in a report on Tuesday, June 18th. Finally, Barclays reduced their price target on shares of AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a report on Friday. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, AZEK has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

Hedge Funds Weigh In On AZEK

Several large investors have recently modified their holdings of AZEK. Norges Bank bought a new position in shares of AZEK in the fourth quarter valued at about $44,418,000. Vanguard Group Inc. raised 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. Jennison Associates LLC raised its position in shares of AZEK by 2,948.2% in the fourth quarter. Jennison Associates LLC now owns 788,666 shares of the company’s stock valued at $30,166,000 after purchasing an additional 762,793 shares during the period. Corient Private Wealth LLC raised its position in shares of AZEK by 1,339.0% in the fourth quarter. Corient Private Wealth LLC now owns 657,712 shares of the company’s stock valued at $25,157,000 after purchasing an additional 612,005 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of AZEK by 66.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock valued at $73,631,000 after purchasing an additional 587,107 shares during the period. 97.44% of the stock is owned by institutional investors.

AZEK Company Profile

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.