Insider Selling: The AZEK Company Inc. (NYSE:AZEK) CEO Sells 20,387 Shares of Stock

The AZEK Company Inc. (NYSE:AZEK) CEO Jesse G. Singh sold 20,387 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the transaction, the chief executive officer now directly owns 883,765 shares of the company’s stock, valued at $44,258,951.20. This represents a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

AZEK Stock Up 0.4 %

Shares of AZEK traded up $0.22 during mid-day trading on Tuesday, hitting $50.19. 1,158,466 shares of the company’s stock were exchanged, compared to its average volume of 1,612,498. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.14. The AZEK Company Inc. has a 52 week low of $35.48 and a 52 week high of $54.91. The company has a 50-day simple moving average of $50.17 and a 200 day simple moving average of $46.49. The company has a market cap of $7.18 billion, a PE ratio of 50.70, a P/E/G ratio of 2.19 and a beta of 1.94.

AZEK (NYSE:AZEK) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, beating the consensus estimate 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 1.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AZEK shares. Barclays boosted their price target on shares of AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Robert W. Baird lifted their price target on AZEK from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Royal Bank of Canada increased their price objective on AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of AZEK in a report on Thursday, November 21st. Finally, Truist Financial upped their price target on AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.85.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AZEK. Vanguard Group Inc. increased its position in AZEK by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company’s stock worth $685,032,000 after buying an additional 54,725 shares during the period. Wellington Management Group LLP boosted its stake in shares of AZEK by 33.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after purchasing an additional 3,595,863 shares in the last quarter. FMR LLC grew its stake in shares of AZEK by 57.9% during the third quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after buying an additional 2,497,074 shares during the last quarter. State Street Corp increased its holdings in AZEK by 1.9% in the 3rd quarter. State Street Corp now owns 2,451,483 shares of the company’s stock worth $114,729,000 after purchasing an additional 45,774 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in AZEK by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company’s stock valued at $109,105,000 after buying an additional 12,644 shares during the last quarter. 97.44% of the stock is currently owned by institutional investors.

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.