TimesSquare Capital Management LLC Grows Position in The AZEK Company Inc. (NYSE:AZEK)

TimesSquare Capital Management LLC raised its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 772,639 shares of the company’s stock after purchasing an additional 11,137 shares during the quarter. TimesSquare Capital Management LLC owned about 0.53% of AZEK worth $36,160,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AZEK. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in AZEK in the first quarter valued at approximately $103,000. SG Americas Securities LLC boosted its holdings in shares of AZEK by 573.2% in the 1st quarter. SG Americas Securities LLC now owns 30,063 shares of the company’s stock valued at $1,510,000 after acquiring an additional 25,597 shares during the last quarter. Sei Investments Co. raised its holdings in shares of AZEK by 2.0% during the first quarter. Sei Investments Co. now owns 459,982 shares of the company’s stock worth $23,100,000 after purchasing an additional 8,978 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of AZEK by 44.5% during the first quarter. Russell Investments Group Ltd. now owns 206,138 shares of the company’s stock worth $10,352,000 after purchasing an additional 63,481 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in AZEK during the first quarter valued at $26,360,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.

AZEK Stock Performance

NYSE AZEK opened at $47.04 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.07 and a quick ratio of 2.11. The stock’s 50 day simple moving average is $44.26 and its 200-day simple moving average is $44.17. The company has a market cap of $6.81 billion, a PE ratio of 41.63, a price-to-earnings-growth ratio of 1.17 and a beta of 1.88. The AZEK Company Inc. has a 1-year low of $27.81 and a 1-year high of $50.78.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $434.40 million for the quarter, compared to analyst estimates of $396.89 million. AZEK had a return on equity of 13.38% and a net margin of 11.35%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. As a group, equities research analysts anticipate that The AZEK Company Inc. will post 1.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on AZEK. JPMorgan Chase & Co. reduced their price objective on AZEK from $52.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Royal Bank of Canada decreased their price target on AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Truist Financial lowered their price objective on AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Stifel Nicolaus cut their target price on shares of AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Loop Capital downgraded shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target on the stock. in a report on Friday, October 4th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AZEK has a consensus rating of “Moderate Buy” and an average price target of $48.12.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $41.47, for a total transaction of $829,400.00. Following the completion of the sale, the chief executive officer now owns 186,705 shares of the company’s stock, valued at approximately $7,742,656.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $41.47, for a total transaction of $829,400.00. Following the transaction, the chief executive officer now owns 186,705 shares of the company’s stock, valued at approximately $7,742,656.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Pamela J. Edwards bought 600 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $41.70 per share, with a total value of $25,020.00. Following the completion of the purchase, the director now directly owns 8,708 shares in the company, valued at approximately $363,123.60. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.10% of the company’s stock.

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.