Thompson Investment Management Inc. Cuts Stake in The AZEK Company Inc. (NYSE:AZEK)

Thompson Investment Management Inc. cut its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 11.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,765 shares of the company’s stock after selling 1,000 shares during the quarter. Thompson Investment Management Inc.’s holdings in AZEK were worth $380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AZEK. Truist Financial Corp lifted its stake in AZEK by 1.6% during the fourth quarter. Truist Financial Corp now owns 16,706 shares of the company’s stock worth $793,000 after purchasing an additional 255 shares in the last quarter. Investment House LLC boosted its stake in AZEK by 0.7% in the fourth quarter. Investment House LLC now owns 39,255 shares of the company’s stock valued at $1,863,000 after acquiring an additional 290 shares in the last quarter. Federated Hermes Inc. increased its position in AZEK by 4.8% during the fourth quarter. Federated Hermes Inc. now owns 6,984 shares of the company’s stock worth $332,000 after buying an additional 318 shares during the period. Smartleaf Asset Management LLC raised its position in AZEK by 13.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company’s stock valued at $146,000 after purchasing an additional 352 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its holdings in shares of AZEK by 4.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 8,171 shares of the company’s stock valued at $388,000 after purchasing an additional 379 shares during the period. Institutional investors and hedge funds own 97.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Raymond James set a $51.50 price objective on AZEK in a research note on Tuesday, March 25th. Barclays upped their price objective on shares of AZEK from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Wolfe Research reaffirmed a “peer perform” rating on shares of AZEK in a research report on Wednesday, March 26th. Baird R W downgraded shares of AZEK from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Citigroup reissued a “neutral” rating and set a $51.50 price target (down from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $53.93.

AZEK Price Performance

NYSE AZEK opened at $54.47 on Wednesday. The AZEK Company Inc. has a 52-week low of $35.48 and a 52-week high of $54.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The business has a 50 day simple moving average of $49.22 and a 200 day simple moving average of $48.87. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 55.02, a PEG ratio of 1.91 and a beta of 1.82.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. AZEK had a return on equity of 13.47% and a net margin of 9.85%. The company had revenue of $452.23 million for the quarter, compared to analysts’ expectations of $444.75 million. During the same quarter in the prior year, the business posted $0.39 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. Analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $51.40, for a total value of $1,028,000.00. Following the completion of the transaction, the chief executive officer now owns 852,765 shares in the company, valued at $43,832,121. This trade represents a 2.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

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.