The AZEK Company Inc. (NYSE:AZEK) Shares Sold by abrdn plc

abrdn plc reduced its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 20.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 641,496 shares of the company’s stock after selling 162,494 shares during the period. abrdn plc owned 0.43% of AZEK worth $24,537,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AZEK. BluePath Capital Management LLC acquired a new stake in shares of AZEK during the third quarter valued at about $31,000. CI Investments Inc. acquired a new stake in shares of AZEK during the third quarter valued at about $153,000. Federated Hermes Inc. grew its holdings in shares of AZEK by 80.4% in the fourth quarter. Federated Hermes Inc. now owns 4,353 shares of the company’s stock valued at $167,000 after purchasing an additional 1,940 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of AZEK in the third quarter valued at approximately $200,000. Finally, Winthrop Advisory Group LLC acquired a new position in shares of AZEK in the fourth quarter valued at approximately $211,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.

AZEK Stock Performance

Shares of AZEK opened at $46.37 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.67 and a current ratio of 2.99. The stock has a market capitalization of $6.85 billion, a P/E ratio of 58.70, a P/E/G ratio of 1.44 and a beta of 1.92. The company’s fifty day moving average is $47.80 and its two-hundred day moving average is $38.93. The AZEK Company Inc. has a 1 year low of $23.08 and a 1 year high of $50.78.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.05. The company had revenue of $240.44 million for the quarter, compared to analysts’ expectations of $234.12 million. AZEK had a net margin of 8.57% and a return on equity of 9.61%. On average, sell-side analysts predict that The AZEK Company Inc. will post 1.03 earnings per share for the current year.

Insider Buying and Selling at AZEK

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.34, for a total value of $589,420.00. Following the transaction, the chief executive officer now directly owns 1,184,444 shares of the company’s stock, valued at approximately $53,702,690.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.34, for a total transaction of $589,420.00. Following the transaction, the chief executive officer now directly owns 1,184,444 shares of the company’s stock, valued at approximately $53,702,690.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan Skelly sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $46.78, for a total transaction of $467,800.00. Following the transaction, the insider now directly owns 180,784 shares in the company, valued at $8,457,075.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,431 shares of company stock valued at $6,356,622. 3.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AZEK. TheStreet upgraded shares of AZEK from a “c+” rating to a “b-” rating in a report on Wednesday, January 31st. B. Riley lifted their price objective on shares of AZEK from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Benchmark started coverage on shares of AZEK in a research note on Friday, April 19th. They issued a “buy” rating and a $55.00 price target for the company. Barclays lifted their price target on shares of AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada lifted their price target on shares of AZEK from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, AZEK has a consensus rating of “Moderate Buy” and a consensus price target of $44.11.

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.