Scalar Gauge Management LLC Makes New Investment in The AZEK Company Inc. (NYSE:AZEK)

Scalar Gauge Management LLC purchased a new stake in The AZEK Company Inc. (NYSE:AZEK) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 39,000 shares of the company’s stock, valued at approximately $1,643,000. AZEK comprises approximately 1.0% of Scalar Gauge Management LLC’s portfolio, making the stock its 26th largest holding.

Other hedge funds also recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in AZEK by 45.9% in the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after purchasing an additional 229 shares during the last quarter. ORG Partners LLC bought a new position in AZEK in the 1st quarter valued at approximately $35,000. Whittier Trust Co. acquired a new stake in AZEK during the 1st quarter worth approximately $37,000. Versant Capital Management Inc grew its holdings in AZEK by 5,452.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,277 shares of the company’s stock worth $54,000 after acquiring an additional 1,254 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in AZEK in the 2nd quarter valued at approximately $90,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AZEK. Citigroup cut their price target on shares of AZEK from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. BMO Capital Markets decreased their price target 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. UBS Group lowered their price target on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Loop Capital reduced their price objective on shares of AZEK from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group lowered their target price on shares of AZEK from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.24.

AZEK Stock Down 0.4 %

AZEK stock opened at $46.34 on Tuesday. 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 firm’s fifty day moving average price is $42.67 and its two-hundred day moving average price is $44.98. The firm has a market capitalization of $6.74 billion, a price-to-earnings ratio of 45.43, a price-to-earnings-growth ratio of 1.29 and a beta of 1.87. The AZEK Company Inc. has a 1-year low of $25.03 and a 1-year high of $50.78.

AZEK (NYSE:AZEK) last released 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 business 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 company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 EPS. On average, equities research analysts predict that The AZEK Company Inc. will post 1.05 earnings per share for the current fiscal year.

AZEK announced that its board 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 stock through open market purchases. Stock buyback programs are usually 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 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 owns 1,024,444 shares in the company, valued at approximately $42,770,537. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the business’s stock in a transaction 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 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 legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction 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 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 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.