Lazard Asset Management LLC Sells 1,009 Shares of The AZEK Company Inc. (NYSE:AZEK)

Lazard Asset Management LLC lowered its position in The AZEK Company Inc. (NYSE:AZEK) by 0.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 321,843 shares of the company’s stock after selling 1,009 shares during the period. Lazard Asset Management LLC’s holdings in AZEK were worth $16,162,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AZEK. Quadrant Capital Group LLC boosted its stake in shares of AZEK by 45.9% during the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock worth $28,000 after acquiring an additional 229 shares in the last quarter. ORG Partners LLC bought a new stake in AZEK during the first quarter worth approximately $35,000. Venturi Wealth Management LLC grew its holdings in AZEK by 58.9% during the first quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock valued at $36,000 after purchasing an additional 262 shares during the last quarter. Whittier Trust Co. bought a new position in shares of AZEK in the first quarter valued at approximately $37,000. Finally, Principal Securities Inc. bought a new position in shares of AZEK in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

AZEK Trading Up 0.2 %

Shares of AZEK stock opened at $45.35 on Monday. The firm has a fifty day moving average of $44.63 and a 200-day moving average of $45.09. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 44.36, a P/E/G ratio of 1.33 and a beta of 1.88. 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 0.42, a quick ratio of 2.21 and a current ratio of 3.40.

AZEK (NYSE:AZEK) last posted its earnings results on Friday, June 14th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $418.41 million for the quarter, compared to analysts’ expectations of $416.79 million. AZEK had a net margin of 10.66% and a return on equity of 12.02%. On average, equities research analysts forecast that The AZEK Company Inc. will post 1.06 earnings per share for the current fiscal year.

Insider Activity

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $45.97, for a total value of $597,610.00. Following the transaction, the chief executive officer now owns 1,070,444 shares of the company’s stock, valued at $49,208,310.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $45.97, for a total value of $597,610.00. Following the transaction, the chief executive officer now owns 1,070,444 shares in the company, valued at $49,208,310.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan Skelly sold 12,000 shares of AZEK stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total value of $560,640.00. Following the completion of the sale, the insider now owns 190,134 shares of the company’s stock, valued at $8,883,060.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,000 shares of company stock worth $1,701,000. Company insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays decreased their price objective on shares of AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a report on Friday, July 12th. BMO Capital Markets downgraded AZEK from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $53.00 to $50.00 in a research report on Tuesday, July 23rd. The Goldman Sachs Group dropped their price objective on AZEK from $56.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Loop Capital decreased their target price on AZEK from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, Citigroup dropped their price target on AZEK from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, AZEK currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.72.

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.