The AZEK Company Inc. (NYSE:AZEK) Sees Large Increase in Short Interest

The AZEK Company Inc. (NYSE:AZEK – Get Rating) was the recipient of a large increase in short interest in February. As of February 28th, there was short interest totalling 6,240,000 shares, an increase of 6.5% from the February 13th total of 5,860,000 shares. Approximately 4.3% of the company’s stock are short sold. Based on an average trading volume of 2,010,000 shares, the days-to-cover ratio is presently 3.1 days.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group cut their price target on shares of AZEK from $25.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, November 29th. Stephens upped their price objective on shares of AZEK from $23.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, February 9th. Barclays upped their price objective on shares of AZEK from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, February 9th. Wedbush dropped their price objective on shares of AZEK from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, November 29th. Finally, Loop Capital upped their price objective on shares of AZEK from $18.00 to $24.00 in a report on Monday, January 30th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.28.

AZEK Stock Down 2.3 %

AZEK stock opened at $21.64 on Friday. The company has a current ratio of 2.91, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average is $24.08 and its 200 day moving average is $20.45. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 103.05, a price-to-earnings-growth ratio of 7.40 and a beta of 1.61. AZEK has a 1-year low of $15.12 and a 1-year high of $30.26.

AZEK (NYSE:AZEK – Get Rating) last posted its quarterly earnings data on Wednesday, February 8th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. The company had revenue of $216.30 million for the quarter, compared to analysts’ expectations of $208.14 million. AZEK had a net margin of 2.49% and a return on equity of 7.03%. AZEK’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 earnings per share. Sell-side analysts predict that AZEK will post 0.5 EPS for the current fiscal year.

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $22.72, for a total value of $295,360.00. Following the completion of the sale, the chief executive officer now owns 254,793 shares in the company, valued at approximately $5,788,896.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Corporate Opportunities F. Ares sold 4,770,000 shares of the business’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $26.06, for a total value of $124,306,200.00. Following the transaction, the director now directly owns 14,326,090 shares of the company’s stock, valued at approximately $373,337,905.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $22.72, for a total transaction of $295,360.00. Following the completion of the transaction, the chief executive officer now directly owns 254,793 shares in the company, valued at $5,788,896.96. The disclosure for this sale can be found here. Insiders sold a total of 4,803,000 shares of company stock worth $125,078,160 in the last quarter. 3.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AZEK. Rockefeller Capital Management L.P. grew its position in AZEK by 25.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 109,854 shares of the company’s stock valued at $2,230,000 after acquiring an additional 22,497 shares during the last quarter. Natixis grew its position in AZEK by 430.8% during the fourth quarter. Natixis now owns 163,500 shares of the company’s stock valued at $3,322,000 after acquiring an additional 132,700 shares during the last quarter. Macquarie Group Ltd. grew its position in AZEK by 72.8% during the fourth quarter. Macquarie Group Ltd. now owns 219,282 shares of the company’s stock valued at $4,456,000 after acquiring an additional 92,372 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in AZEK during the fourth quarter valued at approximately $2,603,000. Finally, Schonfeld Strategic Advisors LLC grew its position in AZEK by 36.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 240,894 shares of the company’s stock valued at $4,895,000 after acquiring an additional 64,394 shares during the last quarter. 99.05% of the stock is currently owned by institutional investors.

AZEK Company Profile

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The AZEK Company Inc engages in designing, manufacturing, and selling of building products for residential, commercial, and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, which includes decking, railing, trim and molding, siding and cladding, pergolas and cabanas, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.