Arizona State Retirement System Reduces Stake in The AZEK Company Inc. (NYSE:AZEK)

Arizona State Retirement System decreased its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 2.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 37,577 shares of the company’s stock after selling 1,100 shares during the period. Arizona State Retirement System’s holdings in AZEK were worth $1,437,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Alliance Wealth Advisors LLC UT increased its stake in AZEK by 4.1% in the 3rd quarter. Alliance Wealth Advisors LLC UT now owns 13,044 shares of the company’s stock worth $388,000 after acquiring an additional 515 shares during the last quarter. First Dallas Securities Inc. increased its stake in AZEK by 5.8% in the 3rd quarter. First Dallas Securities Inc. now owns 10,050 shares of the company’s stock worth $299,000 after acquiring an additional 550 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in AZEK by 6.7% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 9,575 shares of the company’s stock worth $225,000 after acquiring an additional 600 shares during the last quarter. Principal Financial Group Inc. increased its stake in AZEK by 6.2% in the 2nd quarter. Principal Financial Group Inc. now owns 11,739 shares of the company’s stock worth $197,000 after acquiring an additional 682 shares during the last quarter. Finally, Mariner LLC increased its stake in AZEK by 4.4% in the 3rd quarter. Mariner LLC now owns 16,398 shares of the company’s stock worth $488,000 after acquiring an additional 687 shares during the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Wall Street Analysts Forecast Growth

AZEK has been the topic of several recent research reports. Truist Financial increased their price objective on AZEK from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Stifel Nicolaus increased their price objective on AZEK from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Robert W. Baird increased their price objective on AZEK from $52.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. BMO Capital Markets increased their price objective on AZEK from $39.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Finally, Barclays increased their target price on AZEK from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.84.

Insider Activity

In related news, insider Michelle A. Kasson sold 94,431 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $49.47, for a total transaction of $4,671,501.57. Following the completion of the transaction, the insider now owns 23,544 shares of the company’s stock, valued at approximately $1,164,721.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $48.30, for a total transaction of $627,900.00. Following the completion of the transaction, the chief executive officer now owns 1,083,444 shares of the company’s stock, valued at approximately $52,330,345.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michelle A. Kasson sold 94,431 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $49.47, for a total value of $4,671,501.57. Following the transaction, the insider now directly owns 23,544 shares of the company’s stock, valued at approximately $1,164,721.68. The disclosure for this sale can be found here. Insiders sold a total of 130,431 shares of company stock worth $6,356,622 in the last quarter. 3.10% of the stock is owned by company insiders.

AZEK Trading Down 1.3 %

AZEK opened at $47.29 on Friday. The stock has a market cap of $6.98 billion, a PE ratio of 59.86, a PEG ratio of 1.57 and a beta of 1.92. The company has a quick ratio of 1.67, a current ratio of 2.99 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average of $47.52 and a 200-day moving average of $38.04. The AZEK Company Inc. has a 52 week low of $23.08 and a 52 week high of $50.78.

AZEK (NYSE:AZEK) last released its earnings results on Tuesday, February 6th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. The company had revenue of $240.44 million during the quarter, compared to analysts’ expectations of $234.12 million. AZEK had a return on equity of 9.61% and a net margin of 8.57%. Equities research analysts predict that The AZEK Company Inc. will post 1.02 earnings per share for the current fiscal year.

About AZEK

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.