The AZEK Company Inc. (NYSE:AZEK) Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC lowered its stake in The AZEK Company Inc. (NYSE:AZEK) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,125 shares of the company’s stock after selling 8,200 shares during the quarter. First Eagle Investment Management LLC owned about 0.09% of AZEK worth $5,609,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AZEK. Los Angeles Capital Management LLC bought a new stake in shares of AZEK in the 1st quarter worth $11,683,000. Vanguard Group Inc. grew its holdings in AZEK by 3.2% during the first 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 AZEK by 180.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 36,912 shares of the company’s stock valued at $1,856,000 after acquiring an additional 23,746 shares during the last quarter. Congress Asset Management Co. MA boosted its position in shares of AZEK by 26.3% during the 1st quarter. Congress Asset Management Co. MA now owns 237,326 shares of the company’s stock valued at $11,919,000 after purchasing an additional 49,460 shares in the last quarter. Finally, Duality Advisers LP bought a new position in shares of AZEK during the 1st quarter valued at about $1,357,000. Institutional investors own 97.44% of the company’s stock.

Analyst Ratings Changes

AZEK has been the subject of several recent research reports. Barclays cut their target price on shares of AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. BMO Capital Markets reduced their price objective on AZEK from $50.00 to $46.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their target price on AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Citigroup reduced their target price on AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Finally, The Goldman Sachs Group dropped 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. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, AZEK presently has a consensus rating of “Moderate Buy” and an average price target of $48.24.

AZEK Stock Performance

Shares of AZEK opened at $46.51 on Friday. The AZEK Company Inc. has a 52 week low of $25.03 and a 52 week high of $50.78. 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 company has a market capitalization of $6.77 billion, a PE ratio of 45.60, a PEG ratio of 1.29 and a beta of 1.87. The company’s 50 day moving average price is $42.56 and its 200 day moving average price is $45.07.

AZEK (NYSE:AZEK) last posted its quarterly 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. AZEK had a net margin of 11.35% and a return on equity of 13.38%. The business had revenue of $434.40 million for the quarter, compared to the consensus estimate of $396.89 million. AZEK’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 earnings per share. Research analysts expect that The AZEK Company Inc. will post 1.05 EPS for the current fiscal year.

AZEK announced that its Board of Directors has initiated a share repurchase program on Monday, June 17th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the company to reacquire up to 9.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

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