Interval Partners LP Invests $14.22 Million in The AZEK Company Inc. (NYSE:AZEK)

Interval Partners LP bought a new position in The AZEK Company Inc. (NYSE:AZEK) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 283,085 shares of the company’s stock, valued at approximately $14,217,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AZEK. Los Angeles Capital Management LLC purchased a new stake in AZEK in the 1st quarter worth approximately $11,683,000. Vanguard Group Inc. lifted its stake in AZEK by 3.2% in the first quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock worth $677,082,000 after acquiring an additional 413,297 shares during the period. Congress Asset Management Co. MA boosted its holdings in AZEK by 26.3% in 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. Charles Schwab Investment Management Inc. increased its position in AZEK by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,092,176 shares of the company’s stock valued at $41,776,000 after purchasing an additional 20,912 shares during the period. Finally, Lecap Asset Management Ltd. bought a new position in AZEK in the 4th quarter worth $1,134,000. 97.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AZEK

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

AZEK Stock Down 0.4 %

AZEK stock traded down $0.19 during trading on Tuesday, hitting $45.33. 1,147,584 shares of the stock traded hands, compared to its average volume of 1,697,381. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.40 and a quick ratio of 2.21. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 44.44, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88. The AZEK Company Inc. has a 1 year low of $25.03 and a 1 year high of $50.78. The firm’s 50 day moving average is $44.58 and its two-hundred day moving average is $45.20.

AZEK (NYSE:AZEK) last posted its quarterly earnings results on Friday, June 14th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The firm 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, sell-side analysts anticipate that The AZEK Company Inc. will post 1.06 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AZEK. Truist Financial reaffirmed a “buy” rating and set a $57.00 target price on shares of AZEK in a research note on Tuesday, June 18th. The Goldman Sachs Group cut their price objective on AZEK from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Barclays decreased their target price on AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. 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. Finally, Robert W. Baird reduced their price target on AZEK from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, AZEK presently has an average rating of “Moderate Buy” and an average price target of $46.72.

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.