The AZEK Company Inc. (NYSE:AZEK) Short Interest Update

The AZEK Company Inc. (NYSE:AZEK) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totalling 5,440,000 shares, a decrease of 9.0% from the June 30th total of 5,980,000 shares. Currently, 3.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,940,000 shares, the days-to-cover ratio is currently 2.8 days.

AZEK Stock Down 3.2 %

Shares of AZEK stock traded down $1.45 during trading on Thursday, hitting $43.44. The company’s stock had a trading volume of 1,578,447 shares, compared to its average volume of 1,700,406. AZEK has a 52 week low of $25.03 and a 52 week high of $50.78. The company has a market capitalization of $6.32 billion, a PE ratio of 43.08, a P/E/G ratio of 1.33 and a beta of 1.88. The company has a fifty day simple moving average of $44.54 and a two-hundred day simple moving average of $45.20. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.21 and a current ratio of 3.40.

AZEK (NYSE:AZEK) last announced its earnings results on Friday, June 14th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. AZEK had a net margin of 10.66% and a return on equity of 12.02%. The business had revenue of $418.41 million during the quarter, compared to the consensus estimate of $416.79 million. Equities research analysts predict that AZEK will post 1.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. DA Davidson downgraded shares of AZEK from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $57.00 to $44.00 in a research note on Wednesday, July 3rd. Robert W. Baird reduced their price target on AZEK from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. 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 dropped their price objective on AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, BMO Capital Markets downgraded shares of AZEK from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $53.00 to $50.00 in a research note on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.72.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $45.97, for a total value of $597,610.00. Following the transaction, the chief executive officer now directly owns 1,070,444 shares in the company, valued at approximately $49,208,310.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $45.97, for a total value of $597,610.00. Following the completion of the transaction, the chief executive officer now owns 1,070,444 shares of the company’s stock, valued at approximately $49,208,310.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jonathan Skelly sold 12,000 shares of the firm’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 in the company, valued at approximately $8,883,060.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,000 shares of company stock valued at $1,701,000. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AZEK

Institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its holdings in AZEK by 45.9% in the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock worth $28,000 after buying an additional 229 shares in the last quarter. ORG Partners LLC bought a new stake in shares of AZEK in the first quarter worth approximately $35,000. Venturi Wealth Management LLC raised its holdings in shares of AZEK by 58.9% during the first quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock valued at $36,000 after purchasing an additional 262 shares during the last quarter. Whittier Trust Co. bought a new position in AZEK during the first quarter valued at approximately $37,000. Finally, Principal Securities Inc. purchased a new stake in AZEK in the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 97.44% 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.