Maven Securities LTD Invests $211,000 in The AZEK Company Inc. (NYSE:AZEK)

Maven Securities LTD acquired a new stake in The AZEK Company Inc. (NYSE:AZEK) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,000 shares of the company’s stock, valued at approximately $211,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Treasurer of the State of North Carolina raised its position in AZEK by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 58,496 shares of the company’s stock valued at $2,237,000 after purchasing an additional 570 shares during the period. Rafferty Asset Management LLC lifted its position in AZEK by 27.7% in the fourth quarter. Rafferty Asset Management LLC now owns 45,952 shares of the company’s stock valued at $1,758,000 after buying an additional 9,967 shares during the last quarter. Seven Eight Capital LP purchased a new position in AZEK during the fourth quarter worth about $1,472,000. Sea Cliff Partners Management LP acquired a new stake in shares of AZEK during the fourth quarter valued at about $16,174,000. Finally, Ranger Investment Management L.P. raised its stake in shares of AZEK by 64.5% in the 4th quarter. Ranger Investment Management L.P. now owns 884,645 shares of the company’s stock valued at $33,838,000 after acquiring an additional 346,798 shares during the period. 97.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jesse G. Singh sold 20,000 shares of the business’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 completion of the sale, the chief executive officer now directly owns 186,705 shares of the company’s stock, valued at $7,742,656.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 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 $7,742,656.35. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total value of $542,750.00. Following the completion of the sale, the chief executive officer now directly owns 1,024,444 shares of the company’s stock, valued at $42,770,537. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

AZEK Stock Down 0.8 %

Shares of NYSE AZEK opened at $46.10 on Friday. The business has a 50-day moving average of $42.98 and a two-hundred day moving average of $44.92. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 45.20, a price-to-earnings-growth ratio of 1.43 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 debt-to-equity ratio of 0.41, a current ratio of 3.07 and a quick ratio of 2.11.

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

AZEK declared that its board has approved a share repurchase plan on Monday, June 17th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. DA Davidson downgraded shares of AZEK from a “buy” rating to a “neutral” rating and dropped their target price for the company from $57.00 to $44.00 in a report on Wednesday, July 3rd. Barclays cut their price objective on AZEK from $58.00 to $52.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Benchmark restated a “buy” rating and set a $55.00 target price on shares of AZEK in a report on Friday, August 9th. UBS Group cut 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. Finally, The Goldman Sachs Group dropped their price objective on shares of AZEK from $56.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.24.

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.