MQS Management LLC Takes Position in The AZEK Company Inc. (NYSE:AZEK)

MQS Management LLC bought a new position in shares of The AZEK Company Inc. (NYSE:AZEK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,806 shares of the company’s stock, valued at approximately $287,000.

A number of other institutional investors have also modified their holdings of the business. Quadrant Capital Group LLC raised its stake in AZEK by 45.9% during the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after acquiring an additional 229 shares during the last quarter. ORG Partners LLC acquired a new position in shares of AZEK in the first quarter valued at approximately $35,000. Whittier Trust Co. purchased a new stake in shares of AZEK during the first quarter worth approximately $37,000. Principal Securities Inc. purchased a new stake in shares of AZEK during the fourth quarter worth approximately $44,000. Finally, Versant Capital Management Inc lifted its holdings in shares of AZEK by 5,452.2% during the second quarter. Versant Capital Management Inc now owns 1,277 shares of the company’s stock worth $54,000 after purchasing an additional 1,254 shares during the period. 97.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on AZEK shares. Stifel Nicolaus dropped their price objective on shares of AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada cut their price target on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Loop Capital lowered their price objective on AZEK from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. UBS Group cut their target price on AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, DA Davidson lowered AZEK from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $57.00 to $44.00 in a report on Wednesday, July 3rd. Five 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 presently has an average rating of “Moderate Buy” and an average target price of $48.24.

AZEK Stock Performance

Shares of AZEK opened at $46.51 on Friday. The AZEK Company Inc. has a 12-month low of $25.03 and a 12-month high of $50.78. The stock has a market cap of $6.77 billion, a P/E ratio of 45.60, a PEG ratio of 1.29 and a beta of 1.87. The company has a current ratio of 3.07, a quick ratio of 2.11 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average of $42.56 and a two-hundred day moving average of $45.07.

AZEK (NYSE:AZEK) last posted its 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 for the quarter, compared to analyst estimates of $396.89 million. AZEK had a return on equity of 13.38% and a net margin of 11.35%. AZEK’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 EPS. As a group, research analysts predict that The AZEK Company Inc. will post 1.05 EPS for the current fiscal year.

AZEK announced that its board has initiated a share buyback plan on Monday, June 17th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the company to reacquire up to 9.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $41.47, for a total value of $829,400.00. Following the transaction, the chief executive officer now directly owns 186,705 shares in the company, valued at approximately $7,742,656.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Jesse G. Singh sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jesse G. Singh sold 13,000 shares of the firm’s 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 sale, the chief executive officer now owns 1,024,444 shares in the company, valued at approximately $42,770,537. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

AZEK 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.