Brown Lisle Cummings Inc. Trims Position in The AZEK Company Inc. (NYSE:AZEK)

Brown Lisle Cummings Inc. lowered its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 3.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,225 shares of the company’s stock after selling 375 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in AZEK were worth $432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in AZEK by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock worth $677,082,000 after acquiring an additional 413,297 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of AZEK by 180.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 36,912 shares of the company’s stock worth $1,856,000 after purchasing an additional 23,746 shares during the period. Duality Advisers LP acquired a new stake in shares of AZEK during the first quarter worth $1,357,000. Bessemer Group Inc. grew its position in AZEK by 6.7% in the 1st quarter. Bessemer Group Inc. now owns 308,554 shares of the company’s stock valued at $15,494,000 after buying an additional 19,274 shares during the last quarter. Finally, Norden Group LLC increased its stake in AZEK by 1,234.4% in the 1st quarter. Norden Group LLC now owns 144,234 shares of the company’s stock valued at $7,243,000 after buying an additional 133,425 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Insider Activity at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AZEK 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 sale, the chief executive officer now owns 186,705 shares in the company, valued at $7,742,656.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Pamela J. Edwards acquired 600 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $41.70 per share, with a total value of $25,020.00. Following the purchase, the director now 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.

Wall Street Analyst Weigh In

AZEK has been the subject of several recent analyst reports. BMO Capital Markets reduced their target price on shares of AZEK from $50.00 to $46.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. Royal Bank of Canada cut their target price on AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group decreased their price target on AZEK from $56.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Barclays reduced their target price on AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, UBS Group lowered their price target on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.94.

AZEK Price Performance

AZEK stock opened at $44.13 on Monday. The stock’s 50 day moving average price is $43.47 and its 200 day moving average price is $44.47. The firm has a market cap of $6.42 billion, a P/E ratio of 43.26, a PEG ratio of 1.10 and a beta of 1.88. 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 AZEK Company Inc. has a 1 year low of $25.03 and a 1 year high of $50.78.

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

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.