The AZEK Company Inc. (NYSE:AZEK) Short Interest Update

The AZEK Company Inc. (NYSE:AZEK) saw a large increase in short interest in June. As of June 30th, there was short interest totalling 5,980,000 shares, an increase of 41.7% from the June 15th total of 4,220,000 shares. Approximately 4.2% of the shares of the stock are sold short. Based on an average daily volume of 1,750,000 shares, the days-to-cover ratio is currently 3.4 days.

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total transaction of $542,750.00. Following the sale, the chief executive officer now directly owns 1,024,444 shares of the company’s stock, valued at approximately $42,770,537. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total value of $542,750.00. Following the sale, the chief executive officer now directly owns 1,024,444 shares of the company’s stock, valued at $42,770,537. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Skelly sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were 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 directly owns 190,134 shares in the company, valued at $8,883,060.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,000 shares of company stock valued at $1,701,000. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AZEK

A number of hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC grew its stake in AZEK by 45.9% in the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after acquiring an additional 229 shares during the period. Tidal Investments LLC grew its stake in AZEK by 3.7% in the first quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock valued at $355,000 after acquiring an additional 251 shares during the period. Venturi Wealth Management LLC grew its stake in AZEK by 58.9% in the first quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock valued at $36,000 after acquiring an additional 262 shares during the period. Treasurer of the State of North Carolina grew its stake in AZEK by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 58,496 shares of the company’s stock valued at $2,237,000 after acquiring an additional 570 shares during the period. Finally, ORG Partners LLC purchased a new position in shares of AZEK during the first quarter valued at approximately $35,000. 97.44% of the stock is currently owned by institutional investors.

AZEK Trading Up 0.1 %

Shares of AZEK traded up $0.03 during mid-day trading on Monday, reaching $43.69. 1,454,242 shares of the company were exchanged, compared to its average volume of 1,660,892. The stock has a market capitalization of $6.36 billion, a PE ratio of 42.83, a PEG ratio of 1.37 and a beta of 1.88. The business has a 50 day simple moving average of $44.96 and a two-hundred day simple moving average of $44.63. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.21 and a current ratio of 3.40. AZEK has a 52 week low of $25.03 and a 52 week high of $50.78.

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

Wall Street Analysts Forecast Growth

AZEK has been the topic of several research analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $57.00 price objective on shares of AZEK in a research note on Tuesday, June 18th. Citigroup dropped their target price on AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday. DA Davidson downgraded AZEK from a “buy” rating to a “neutral” rating and dropped their target price for the company from $57.00 to $44.00 in a research report on Wednesday, July 3rd. Benchmark started coverage on AZEK in a research report on Friday, April 19th. They issued a “buy” rating and a $55.00 target price for the company. Finally, Loop Capital dropped their target price on AZEK from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, AZEK presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

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.