Envestnet Asset Management Inc. Decreases Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

Envestnet Asset Management Inc. trimmed its position in The AZEK Company Inc. (NYSE:AZEK) by 14.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 161,654 shares of the company’s stock after selling 28,109 shares during the quarter. Envestnet Asset Management Inc. owned 0.11% of AZEK worth $7,903,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in AZEK. Xponance Inc. increased its position in AZEK by 12.2% during the 4th quarter. Xponance Inc. now owns 15,993 shares of the company’s stock valued at $759,000 after purchasing an additional 1,744 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of AZEK by 18.8% during the 4th quarter. Teacher Retirement System of Texas now owns 51,735 shares of the company’s stock valued at $2,456,000 after buying an additional 8,182 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of AZEK during the 4th quarter valued at $655,000. KLP Kapitalforvaltning AS bought a new stake in shares of AZEK during the 4th quarter valued at $1,391,000. Finally, LPL Financial LLC boosted its holdings in shares of AZEK by 17.7% during the 4th quarter. LPL Financial LLC now owns 37,247 shares of the company’s stock valued at $1,768,000 after buying an additional 5,589 shares in the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AZEK has been the subject of a number of recent analyst reports. Robert W. Baird boosted their target price on AZEK from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Citigroup reissued a “neutral” rating and issued a $51.50 target price (down previously from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. William Blair reissued a “market perform” rating on shares of AZEK in a research report on Monday, March 24th. BMO Capital Markets boosted their target price on AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a research report on Monday, March 24th. Finally, Stephens reduced their price target on shares of AZEK from $58.00 to $53.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AZEK currently has a consensus rating of “Hold” and a consensus target price of $53.93.

AZEK Price Performance

Shares of NYSE:AZEK opened at $54.35 on Tuesday. The company has a market cap of $7.82 billion, a P/E ratio of 53.28 and a beta of 1.82. The company has a quick ratio of 1.47, a current ratio of 2.45 and a debt-to-equity ratio of 0.29. The AZEK Company Inc. has a 52 week low of $35.48 and a 52 week high of $54.91. The business has a fifty day simple moving average of $52.47 and a 200-day simple moving average of $49.29.

AZEK (NYSE:AZEK) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. AZEK had a return on equity of 13.87% and a net margin of 9.92%. The firm had revenue of $452.23 million during the quarter, compared to the consensus estimate of $444.75 million. During the same quarter in the previous year, the business earned $0.39 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current year.

Insider Transactions at AZEK

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 stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the sale, the chief executive officer owned 852,765 shares of the company’s stock, valued at approximately $43,832,121. This trade represents a 2.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.20% of the stock is owned by insiders.

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.