Envestnet Asset Management Inc. Has $7.90 Million Position in The AZEK Company Inc. (NYSE:AZEK)

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

Several other hedge funds and other institutional investors have also recently modified their holdings of AZEK. FIL Ltd bought a new position in AZEK in the fourth quarter worth $28,000. NBC Securities Inc. purchased a new position in AZEK in the 1st quarter worth approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in AZEK by 623.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock worth $33,000 after acquiring an additional 592 shares during the last quarter. Parallel Advisors LLC increased its stake in AZEK by 261.4% in the 1st quarter. Parallel Advisors LLC now owns 683 shares of the company’s stock worth $33,000 after acquiring an additional 494 shares during the last quarter. Finally, Olde Wealth Management LLC bought a new position in shares of AZEK during the 1st quarter valued at approximately $48,000. 97.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the sale, the chief executive officer directly owned 852,765 shares of the company’s stock, valued at $43,832,121. This represents a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.20% of the company’s stock.

AZEK Stock Performance

AZEK stock opened at $54.35 on Tuesday. The AZEK Company Inc. has a 1 year low of $35.48 and a 1 year high of $54.91. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.47 and a current ratio of 2.45. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 53.28 and a beta of 1.82. The firm’s 50 day moving average price is $52.47 and its two-hundred day moving average price is $49.29.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Stephens reduced their target price on AZEK from $58.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 8th. Barclays increased their price target on AZEK from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Robert W. Baird lifted their price objective on AZEK from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. BMO Capital Markets lifted their price target on AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, March 24th. Finally, UBS Group reduced their target price on AZEK from $55.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AZEK currently has a consensus rating of “Hold” and an average price target of $53.93.

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.