DekaBank Deutsche Girozentrale Purchases Shares of 5,222 The AZEK Company Inc. (NYSE:AZEK)

DekaBank Deutsche Girozentrale purchased a new stake in shares of The AZEK Company Inc. (NYSE:AZEK) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 5,222 shares of the company’s stock, valued at approximately $215,000.

Several other institutional investors have also recently made changes to their positions in AZEK. Quadrant Capital Group LLC grew its position in AZEK by 45.9% during the fourth 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. Tidal Investments LLC boosted its position in shares of AZEK by 3.7% during the 1st quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock valued at $355,000 after acquiring an additional 251 shares during the last quarter. Signaturefd LLC boosted its position in shares of AZEK by 32.7% during the 2nd quarter. Signaturefd LLC now owns 2,157 shares of the company’s stock valued at $91,000 after acquiring an additional 532 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in AZEK by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 58,496 shares of the company’s stock worth $2,237,000 after buying an additional 570 shares in the last quarter. Finally, ORG Partners LLC bought a new position in AZEK in the first quarter valued at $35,000. Institutional investors own 97.44% of the company’s stock.

Wall Street Analyst Weigh In

AZEK has been the subject of several research reports. DA Davidson lowered AZEK from a “buy” rating to a “neutral” rating and cut their target price for the stock from $57.00 to $44.00 in a research note on Wednesday, July 3rd. Citigroup decreased their target price on shares of AZEK from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. BMO Capital Markets cut their price target on shares of AZEK from $50.00 to $46.00 and set a “market perform” rating for the company in a research report on Friday, August 9th. Truist Financial lowered their target price on AZEK from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reduced their price target on AZEK from $49.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $48.24.

AZEK Price Performance

Shares of NYSE AZEK opened at $46.51 on Friday. The AZEK Company Inc. has a 1 year low of $25.03 and a 1 year high of $50.78. The stock has a market capitalization of $6.77 billion, a P/E ratio of 45.60, a P/E/G ratio of 1.29 and a beta of 1.87. The company’s 50-day moving average is $42.56 and its 200 day moving average is $45.07. 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 posted its earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $434.40 million for 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 business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 EPS. On average, sell-side analysts expect that The AZEK Company Inc. will post 1.05 earnings per share for the current year.

AZEK announced that its Board of Directors has approved a stock buyback plan on Monday, June 17th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 9.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at AZEK

In other news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total value of $542,750.00. Following the sale, the chief executive officer now directly owns 1,024,444 shares of the company’s stock, valued at approximately $42,770,537. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of AZEK 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 completion of the transaction, the chief executive officer now owns 186,705 shares in the company, valued at $7,742,656.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was 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 in the company, valued at $42,770,537. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

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.