Private Advisor Group LLC Takes Position in The AZEK Company Inc. (NYSE:AZEK)

Private Advisor Group LLC bought a new position in The AZEK Company Inc. (NYSE:AZEK) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,190 shares of the company’s stock, valued at approximately $243,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AZEK. Vanguard Group Inc. raised its holdings in shares of AZEK by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock valued at $677,082,000 after buying an additional 413,297 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of AZEK by 180.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 36,912 shares of the company’s stock worth $1,856,000 after acquiring an additional 23,746 shares in the last quarter. Duality Advisers LP bought a new stake in shares of AZEK in the 1st quarter worth approximately $1,357,000. Bessemer Group Inc. boosted its stake in shares of AZEK by 6.7% in the 1st quarter. Bessemer Group Inc. now owns 308,554 shares of the company’s stock valued at $15,494,000 after purchasing an additional 19,274 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of AZEK by 44.5% during the 1st quarter. Russell Investments Group Ltd. now owns 206,138 shares of the company’s stock valued at $10,352,000 after purchasing an additional 63,481 shares during the last quarter. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $41.47, for a total transaction of $829,400.00. Following the sale, the chief executive officer now directly owns 186,705 shares in the company, valued at $7,742,656.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $41.47, for a total transaction of $829,400.00. Following the completion of the sale, the chief executive officer now owns 186,705 shares in the company, valued at approximately $7,742,656.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Pamela J. Edwards purchased 600 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $41.70 per share, with a total value of $25,020.00. Following the completion of the purchase, the director now directly owns 8,708 shares in the company, valued at $363,123.60. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.10% of the company’s stock.

AZEK Trading Up 2.4 %

AZEK stock opened at $46.56 on Friday. The company has a quick ratio of 2.11, a current ratio of 3.07 and a debt-to-equity ratio of 0.41. The AZEK Company Inc. has a 52-week low of $27.81 and a 52-week high of $50.78. The company has a market cap of $6.74 billion, a P/E ratio of 41.20, a P/E/G ratio of 1.14 and a beta of 1.88. The business has a 50-day simple moving average of $44.17 and a two-hundred day simple moving average of $44.17.

AZEK (NYSE:AZEK) last released its earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $434.40 million for the quarter, compared to the consensus estimate of $396.89 million. AZEK had a return on equity of 13.38% and a net margin of 11.35%. AZEK’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 earnings per share. Analysts predict that The AZEK Company Inc. will post 1.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AZEK shares. UBS Group lowered their price target on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Truist Financial reduced their price target on AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Barclays lowered their price objective on AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. JPMorgan Chase & Co. cut their target price on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Finally, Royal Bank of Canada lowered their price target on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.12.

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.