Flagship Harbor Advisors LLC Cuts Position in The AZEK Company Inc. (NYSE:AZEK)

Flagship Harbor Advisors LLC trimmed its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,213 shares of the company’s stock after selling 248 shares during the period. Flagship Harbor Advisors LLC’s holdings in AZEK were worth $402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. grew its stake in shares of AZEK by 1,047.4% in the 4th quarter. Principal Financial Group Inc. now owns 135,364 shares of the company’s stock worth $6,426,000 after buying an additional 123,567 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of AZEK by 6.1% in the 4th quarter. Sanctuary Advisors LLC now owns 11,918 shares of the company’s stock valued at $620,000 after acquiring an additional 689 shares during the last quarter. CIBC Asset Management Inc purchased a new position in AZEK in the fourth quarter worth about $213,000. Truist Financial Corp grew its position in AZEK by 1.6% in the fourth quarter. Truist Financial Corp now owns 16,706 shares of the company’s stock worth $793,000 after acquiring an additional 255 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its stake in AZEK by 69.5% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 7,827 shares of the company’s stock worth $372,000 after acquiring an additional 3,210 shares during the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the transaction, the chief executive officer now directly owns 852,765 shares of the company’s stock, valued at $43,832,121. This trade represents a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Barclays lifted their target price on AZEK from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Baird R W downgraded shares of AZEK from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Raymond James Financial set a $51.50 price target on AZEK in a research note on Tuesday, March 25th. BMO Capital Markets increased their target price on AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday, March 24th. Finally, Citigroup reiterated a “neutral” rating and set a $51.50 target price (down from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $53.93.

AZEK Price Performance

Shares of NYSE AZEK opened at $52.80 on Thursday. The AZEK Company Inc. has a 52 week low of $35.48 and a 52 week high of $54.91. The business’s 50 day moving average price is $50.63 and its 200 day moving average price is $48.85. The company has a quick ratio of 1.47, a current ratio of 2.45 and a debt-to-equity ratio of 0.29. The firm has a market cap of $7.60 billion, a P/E ratio of 51.77 and a beta of 1.82.

AZEK (NYSE:AZEK) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $452.23 million for the quarter, compared to the consensus estimate of $444.75 million. AZEK had a net margin of 9.92% and a return on equity of 13.87%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. On average, sell-side analysts expect that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

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.