Quadrature Capital Ltd Increases Stake in The AZEK Company Inc. (NYSE:AZEK)

Quadrature Capital Ltd raised its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 68.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 17,840 shares of the company’s stock after acquiring an additional 7,236 shares during the period. Quadrature Capital Ltd’s holdings in AZEK were worth $896,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AZEK. Raymond James & Associates raised its holdings in AZEK by 72.8% in the 4th quarter. Raymond James & Associates now owns 28,629 shares of the company’s stock worth $1,095,000 after acquiring an additional 12,060 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of AZEK in the fourth quarter worth $434,000. Redwood Investments LLC bought a new position in shares of AZEK during the fourth quarter valued at $2,893,000. WCM Investment Management LLC boosted its position in shares of AZEK by 2.2% during the fourth quarter. WCM Investment Management LLC now owns 669,007 shares of the company’s stock valued at $25,857,000 after buying an additional 14,395 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in AZEK in the 4th quarter worth about $1,134,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Insider Activity at AZEK

In related news, insider Jonathan Skelly sold 12,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were 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 through the SEC website. In other news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction that occurred 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 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 SEC, which is accessible through the SEC website. Also, insider Jonathan Skelly sold 12,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $8,883,060.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,000 shares of company stock valued at $1,701,000. 3.10% of the stock is owned by corporate insiders.

AZEK Price Performance

AZEK traded up $2.26 during trading on Friday, hitting $45.25. 1,532,401 shares of the company traded hands, compared to its average volume of 2,152,727. The company has a market cap of $6.58 billion, a PE ratio of 44.36, a P/E/G ratio of 1.33 and a beta of 1.88. The AZEK Company Inc. has a 1 year low of $25.03 and a 1 year high of $50.78. 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 stock’s 50-day simple moving average is $44.63 and its two-hundred day simple moving average is $45.03.

AZEK (NYSE:AZEK) last announced its quarterly earnings results on Friday, June 14th. The company reported $0.39 EPS 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 during the quarter, compared to analyst estimates of $416.79 million. As a group, sell-side analysts anticipate that The AZEK Company Inc. will post 1.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of AZEK from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Benchmark started coverage on AZEK in a report on Friday, April 19th. They issued a “buy” rating and a $55.00 target price on the stock. Loop Capital cut their price target on AZEK from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Truist Financial reiterated a “buy” rating and issued a $57.00 price objective on shares of AZEK in a research note on Tuesday, June 18th. Finally, Citigroup reduced their target price on shares of AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.