Seven Eight Capital LP Sells 18,314 Shares of The AZEK Company Inc. (NYSE:AZEK)

Seven Eight Capital LP lessened its holdings in The AZEK Company Inc. (NYSE:AZEK) by 47.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,180 shares of the company’s stock after selling 18,314 shares during the quarter. Seven Eight Capital LP’s holdings in AZEK were worth $1,013,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in 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 acquiring an additional 881,697 shares during the period. Raymond James & Associates grew its stake in shares of AZEK by 72.8% in the 4th quarter. Raymond James & Associates now owns 28,629 shares of the company’s stock valued at $1,095,000 after purchasing an additional 12,060 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of AZEK in the 4th quarter worth approximately $434,000. Gradient Investments LLC raised its holdings in shares of AZEK by 133,498.0% in the 4th quarter. Gradient Investments LLC now owns 133,598 shares of the company’s stock worth $5,110,000 after buying an additional 133,498 shares in the last quarter. Finally, Redwood Investments LLC bought a new position in shares of AZEK during the 4th quarter worth approximately $2,893,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

AZEK Trading Down 3.5 %

Shares of AZEK traded down $1.51 on Wednesday, reaching $42.21. 1,776,393 shares of the company’s stock were exchanged, compared to its average volume of 1,703,221. The AZEK Company Inc. has a 12 month low of $25.03 and a 12 month high of $50.78. The stock has a market capitalization of $6.14 billion, a P/E ratio of 42.86, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88. 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 business has a 50 day moving average price of $44.86 and a two-hundred day moving average price of $44.96.

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

Insider Activity

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Truist Financial reiterated a “buy” rating and set a $57.00 price objective on shares of AZEK in a research note on Tuesday, June 18th. Citigroup dropped their target price on shares of AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. The Goldman Sachs Group reduced their price target on shares of AZEK from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Robert W. Baird decreased their price objective on shares of AZEK from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Finally, Benchmark initiated coverage on shares of AZEK in a research note on Friday, April 19th. They issued a “buy” rating and a $55.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.72.

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.