SG Americas Securities LLC Boosts Stake in The AZEK Company Inc. (NYSE:AZEK)

SG Americas Securities LLC raised its position in The AZEK Company Inc. (NYSE:AZEK) by 905.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,854 shares of the company’s stock after purchasing an additional 27,785 shares during the quarter. SG Americas Securities LLC’s holdings in AZEK were worth $1,444,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AZEK. Mattson Financial Services LLC purchased a new position in AZEK in the second quarter valued at $402,000. Sanctuary Advisors LLC purchased a new position in shares of AZEK in the 2nd quarter valued at about $262,000. Brown Financial Advisors acquired a new position in shares of AZEK during the second quarter worth about $270,000. Maven Securities LTD purchased a new stake in shares of AZEK during the second quarter worth approximately $211,000. Finally, Quarry LP raised its holdings in AZEK by 733.7% in the second quarter. Quarry LP now owns 2,968 shares of the company’s stock valued at $125,000 after acquiring an additional 2,612 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AZEK

In other news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were 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 approximately $7,742,656.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction dated 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 approximately $7,742,656.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Pamela J. Edwards bought 600 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $41.70 per share, for a total transaction of $25,020.00. Following the completion of the transaction, the director now owns 8,708 shares of the company’s stock, valued at $363,123.60. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AZEK shares. Benchmark reaffirmed a “buy” rating and set a $55.00 price objective on shares of AZEK in a research report on Friday, August 9th. UBS Group lowered their price objective on AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group cut their target price on AZEK from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Stifel Nicolaus lowered their price target on AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Loop Capital cut shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price objective on the stock. in a report on Friday, October 4th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.94.

AZEK Stock Performance

AZEK stock opened at $43.64 on Wednesday. The stock’s fifty day moving average is $42.94 and its two-hundred day moving average is $44.76. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 42.78, a PEG ratio of 1.43 and a beta of 1.88. 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 AZEK Company Inc. has a 1 year low of $25.03 and a 1 year high of $50.78.

AZEK (NYSE:AZEK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. AZEK had a return on equity of 13.38% and a net margin of 11.35%. The business had revenue of $434.40 million during the quarter, compared to analyst estimates of $396.89 million. During the same period in the prior year, the company posted $0.29 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts predict that The AZEK Company Inc. will post 1.05 EPS for the current year.

AZEK announced that its board has authorized a share buyback program on Monday, June 17th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the company to repurchase up to 9.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.