Short Interest in The AZEK Company Inc. (NYSE:AZEK) Drops By 10.0%

by · The Cerbat Gem

The AZEK Company Inc. (NYSE:AZEK – Get Free Report) saw a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 5,470,000 shares, a decrease of 10.0% from the September 15th total of 6,080,000 shares. Based on an average daily volume of 1,970,000 shares, the short-interest ratio is presently 2.8 days. Approximately 3.9% of the shares of the stock are sold short.

AZEK Trading Down 2.1 %

Shares of AZEK stock traded down $0.94 during mid-day trading on Thursday, reaching $43.45. The company’s stock had a trading volume of 1,264,013 shares, compared to its average volume of 1,741,583. The company has a quick ratio of 2.11, a current ratio of 3.07 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $6.32 billion, a PE ratio of 43.51, a price-to-earnings-growth ratio of 1.10 and a beta of 1.88. The company’s 50 day simple moving average is $43.28 and its 200-day simple moving average is $44.57. AZEK has a 12-month low of $25.03 and a 12-month high of $50.78.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on AZEK. Stifel Nicolaus cut their price objective on shares of AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Truist Financial cut their price target on AZEK from $57.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Loop Capital cut 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. Barclays dropped their target price on AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of AZEK in a research note on Friday, August 9th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.94.

View Our Latest Analysis on AZEK

Insider Buying and Selling at AZEK

In other AZEK news, Director Pamela J. Edwards acquired 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $41.70 per share, for a total transaction of $25,020.00. Following the transaction, the director now directly owns 8,708 shares of the company’s stock, valued at approximately $363,123.60. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jesse G. Singh sold 20,000 shares of the company’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 sale, the chief executive officer now directly owns 186,705 shares in the company, valued at $7,742,656.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pamela J. Edwards acquired 600 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $41.70 per share, with a total value of $25,020.00. Following the transaction, the director now owns 8,708 shares in the company, valued at $363,123.60. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AZEK

Institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new stake in shares of AZEK during the first quarter valued at approximately $11,683,000. Vanguard Group Inc. lifted its holdings in AZEK by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock worth $677,082,000 after buying an additional 413,297 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position 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 buying an additional 23,746 shares during the last quarter. Congress Asset Management Co. MA grew its stake in shares of AZEK by 26.3% during the first quarter. Congress Asset Management Co. MA now owns 237,326 shares of the company’s stock valued at $11,919,000 after acquiring an additional 49,460 shares in the last quarter. Finally, Duality Advisers LP purchased a new stake in shares of AZEK during the first quarter worth about $1,357,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.

About AZEK

(Get Free Report)

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.

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