The AZEK Company Inc. (NYSE:AZEK) Stock Holdings Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in The AZEK Company Inc. (NYSE:AZEK) by 6.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 150,870 shares of the company’s stock after buying an additional 9,173 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.10% of AZEK worth $4,570,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of AZEK by 7.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,806,359 shares of the company’s stock worth $85,005,000 after acquiring an additional 192,480 shares during the period. Congress Asset Management Co. MA increased its holdings in shares of AZEK by 7.0% in the 2nd quarter. Congress Asset Management Co. MA now owns 120,179 shares of the company’s stock worth $3,640,000 after acquiring an additional 7,886 shares during the period. Barclays PLC increased its holdings in shares of AZEK by 57.6% in the 2nd quarter. Barclays PLC now owns 69,242 shares of the company’s stock worth $2,098,000 after acquiring an additional 25,305 shares during the period. Kornitzer Capital Management Inc. KS increased its holdings in shares of AZEK by 31.4% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 393,035 shares of the company’s stock worth $11,905,000 after acquiring an additional 94,005 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of AZEK by 3.2% in the 2nd quarter. Arizona State Retirement System now owns 33,870 shares of the company’s stock worth $1,026,000 after acquiring an additional 1,047 shares during the period.

Insiders Place Their Bets

In related news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $28.49, for a total transaction of $370,370.00. Following the completion of the sale, the chief executive officer now directly owns 1,226,824 shares in the company, valued at $34,952,215.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Jesse G. Singh sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $33.32, for a total transaction of $999,600.00. Following the transaction, the chief executive officer now owns 70,000 shares of the company’s stock, valued at $2,332,400. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $28.49, for a total transaction of $370,370.00. Following the transaction, the chief executive officer now directly owns 1,226,824 shares in the company, valued at approximately $34,952,215.76. The disclosure for this sale can be found here. Insiders sold a total of 56,000 shares of company stock worth $1,794,550 over the last ninety days. 3.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AZEK. Stephens reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of AZEK in a report on Thursday, October 12th. Truist Financial lowered their target price on shares of AZEK from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. JPMorgan Chase & Co. raised their target price on shares of AZEK from $30.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, August 14th. Credit Suisse Group raised their target price on shares of AZEK from $27.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, August 9th. Finally, Barclays lowered their target price on shares of AZEK from $41.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, October 12th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, AZEK presently has an average rating of “Moderate Buy” and an average target price of $35.28.

AZEK Stock Performance

Shares of AZEK opened at $31.23 on Tuesday. The AZEK Company Inc. has a one year low of $16.76 and a one year high of $34.96. The company has a 50-day moving average of $28.62 and a two-hundred day moving average of $28.96. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 223.04, a PEG ratio of 6.42 and a beta of 1.73. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.41 and a quick ratio of 2.08.

About AZEK

The AZEK Company Inc engages in 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, 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.