Lecap Asset Management Ltd. Raises Holdings in The AZEK Company Inc. (NYSE:AZEK)

Lecap Asset Management Ltd. raised its position in The AZEK Company Inc. (NYSE:AZEK) by 16.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 47,308 shares of the company’s stock after purchasing an additional 6,615 shares during the period. Lecap Asset Management Ltd.’s holdings in AZEK were worth $2,214,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its stake in shares of AZEK by 3.7% in the first quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock worth $355,000 after buying an additional 251 shares in the last quarter. Creative Planning lifted its stake in AZEK by 6.6% in the 3rd quarter. Creative Planning now owns 6,987 shares of the company’s stock worth $327,000 after purchasing an additional 430 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of AZEK by 106.4% during the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after purchasing an additional 480 shares during the last quarter. Signaturefd LLC grew its position in shares of AZEK by 32.7% in the second quarter. Signaturefd LLC now owns 2,157 shares of the company’s stock valued at $91,000 after purchasing an additional 532 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of AZEK by 12.5% in the third quarter. CWM LLC now owns 5,735 shares of the company’s stock valued at $268,000 after purchasing an additional 636 shares during the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.

AZEK Stock Down 1.6 %

Shares of AZEK opened at $42.52 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07. The stock has a market capitalization of $6.19 billion, a PE ratio of 41.69, a P/E/G ratio of 1.10 and a beta of 1.88. The company’s 50-day simple moving average is $43.62 and its 200-day simple moving average is $44.37. The AZEK Company Inc. has a 1 year low of $25.03 and a 1 year high of $50.78.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. AZEK had a net margin of 11.35% and a return on equity of 13.38%. The company had revenue of $434.40 million during the quarter, compared to analysts’ expectations of $396.89 million. During the same quarter last year, the company posted $0.29 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. Analysts forecast that The AZEK Company Inc. will post 1.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AZEK shares. Citigroup lowered their price objective on AZEK from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Barclays cut their price objective on shares of AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. BMO Capital Markets increased their price target on shares of AZEK from $46.00 to $49.00 and gave the company a “market perform” rating in a research note on Tuesday. DA Davidson downgraded shares of AZEK from a “buy” rating to a “neutral” rating and cut their price target for the stock from $57.00 to $44.00 in a report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.12.

Insiders Place Their Bets

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

About AZEK

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.