Sciencast Management LP Takes $753,000 Position in The AZEK Company Inc. (NYSE:AZEK)

Sciencast Management LP bought a new position in The AZEK Company Inc. (NYSE:AZEK) in the 1st quarter, Holdings Channel reports. The firm bought 14,993 shares of the company’s stock, valued at approximately $753,000.

A number of other large investors have also recently made changes to their positions in AZEK. Quadrant Capital Group LLC increased its stake in AZEK by 45.9% in the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock worth $28,000 after purchasing an additional 229 shares during the period. Venturi Wealth Management LLC increased its stake in AZEK by 58.9% in the 1st quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock worth $36,000 after buying an additional 262 shares during the period. Treasurer of the State of North Carolina lifted its holdings in AZEK by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 58,496 shares of the company’s stock valued at $2,237,000 after buying an additional 570 shares in the last quarter. ORG Partners LLC purchased a new stake in AZEK in the 1st quarter valued at about $35,000. Finally, Whittier Trust Co. bought a new position in AZEK in the 1st quarter worth about $37,000. 97.44% of the stock is owned by hedge funds and other institutional investors.

AZEK Stock Performance

AZEK stock traded up $0.35 during mid-day trading on Friday, reaching $43.66. 1,840,479 shares of the company traded hands, compared to its average volume of 1,662,445. The AZEK Company Inc. has a fifty-two week low of $25.03 and a fifty-two week high of $50.78. The firm’s fifty day moving average is $45.03 and its two-hundred day moving average is $44.51. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.40 and a quick ratio of 2.21. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 42.80, a price-to-earnings-growth ratio of 1.32 and a beta of 1.88.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Friday, June 14th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $418.41 million during the quarter, compared to analysts’ expectations of $416.79 million. AZEK had a return on equity of 12.02% and a net margin of 10.66%. On average, equities research analysts expect that The AZEK Company Inc. will post 1.06 earnings per share for the current fiscal year.

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $45.97, for a total transaction of $597,610.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,444 shares in the company, valued at $49,208,310.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $45.97, for a total transaction of $597,610.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,444 shares in the company, valued at $49,208,310.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan Skelly sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total value of $560,640.00. Following the completion of the sale, the insider now owns 190,134 shares in the company, valued at approximately $8,883,060.48. The disclosure for this sale can be found here. Insiders have sold a total of 38,000 shares of company stock worth $1,701,000 over the last quarter. Insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of AZEK from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday. Truist Financial reiterated a “buy” rating and issued a $57.00 target price on shares of AZEK in a report on Tuesday, June 18th. Loop Capital cut their price target on AZEK from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday. Robert W. Baird lowered their price objective on shares of AZEK from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Finally, Citigroup cut their target price on shares of AZEK from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, AZEK has a consensus rating of “Moderate Buy” and an average price target of $46.00.

AZEK 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.