Raymond James & Associates Acquires 12,060 Shares of The AZEK Company Inc. (NYSE:AZEK)

Raymond James & Associates grew its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 72.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 28,629 shares of the company’s stock after purchasing an additional 12,060 shares during the quarter. Raymond James & Associates’ holdings in AZEK were worth $1,095,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AZEK. Morgan Stanley boosted its holdings in shares of AZEK by 272.4% during the 4th quarter. Morgan Stanley now owns 3,973,475 shares of the company’s stock worth $80,741,000 after buying an additional 2,906,460 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of AZEK by 5,090.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,168,290 shares of the company’s stock worth $34,745,000 after buying an additional 1,145,780 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of AZEK by 15.6% during the 2nd quarter. BlackRock Inc. now owns 6,899,713 shares of the company’s stock worth $208,992,000 after buying an additional 929,341 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of AZEK by 7.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,012,414 shares of the company’s stock worth $386,989,000 after buying an additional 881,697 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in shares of AZEK in the 1st quarter worth $20,183,000. 97.44% of the stock is currently owned by institutional investors.

AZEK Stock Down 1.3 %

AZEK stock opened at $44.72 on Friday. 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 firm has a market capitalization of $6.61 billion, a PE ratio of 56.61, a PEG ratio of 1.46 and a beta of 1.92. The AZEK Company Inc. has a twelve month low of $23.08 and a twelve month high of $50.78. The stock has a 50-day simple moving average of $47.77 and a two-hundred day simple moving average of $38.61.

AZEK (NYSE:AZEK) last posted its earnings results on Tuesday, February 6th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $240.44 million during the quarter, compared to analyst estimates of $234.12 million. AZEK had a return on equity of 9.61% and a net margin of 8.57%. On average, equities analysts predict that The AZEK Company Inc. will post 1.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AZEK. Robert W. Baird increased their target price on AZEK from $52.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Citigroup raised their price objective on AZEK from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Stephens raised their price objective on AZEK from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. BMO Capital Markets raised their price objective on AZEK from $39.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Finally, Barclays raised their target price on AZEK from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, AZEK currently has a consensus rating of “Moderate Buy” and an average target price of $44.11.

Insider Activity

In other news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $45.34, for a total transaction of $589,420.00. Following the completion of the sale, the chief executive officer now owns 1,184,444 shares in the company, valued at approximately $53,702,690.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $45.34, for a total value of $589,420.00. Following the completion of the sale, the chief executive officer now owns 1,184,444 shares in the company, valued at approximately $53,702,690.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michelle A. Kasson sold 94,431 shares of the business’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 value of $4,671,501.57. Following the completion of the sale, the insider now 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. In the last 90 days, insiders sold 130,431 shares of company stock worth $6,356,622. 3.10% of the stock is currently owned by insiders.

AZEK 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.