Wealth Enhancement Advisory Services LLC Sells 826 Shares of The AZEK Company Inc. (NYSE:AZEK)

Wealth Enhancement Advisory Services LLC cut its position in The AZEK Company Inc. (NYSE:AZEK) by 7.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,610 shares of the company’s stock after selling 826 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in AZEK were worth $450,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AZEK. ORG Wealth Partners LLC acquired a new position in shares of AZEK in the 3rd quarter worth approximately $31,000. Paladin Wealth LLC bought a new position in AZEK in the 3rd quarter valued at $39,000. Blue Trust Inc. boosted its stake in AZEK by 106.4% in the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after purchasing an additional 480 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of AZEK by 5,452.2% during the second quarter. Versant Capital Management Inc now owns 1,277 shares of the company’s stock worth $54,000 after purchasing an additional 1,254 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of AZEK during the second quarter worth $90,000. 97.44% of the stock is owned by institutional investors.

Insider Activity at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of AZEK 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 transaction, the chief executive officer now directly owns 186,705 shares in the company, valued at approximately $7,742,656.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Pamela J. Edwards acquired 600 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $41.70 per share, for a total transaction of $25,020.00. Following the completion of the acquisition, the director now directly owns 8,708 shares in the company, valued at approximately $363,123.60. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jesse G. Singh sold 20,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 186,705 shares of the company’s stock, valued at approximately $7,742,656.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AZEK shares. UBS Group reduced their price target on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Loop Capital lowered shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a research report on Friday, October 4th. 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. BMO Capital Markets upped their price objective on AZEK from $46.00 to $49.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Finally, Truist Financial decreased their price objective on AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.12.

AZEK Stock Performance

Shares of NYSE:AZEK opened at $47.07 on Friday. The firm’s 50 day simple moving average is $44.26 and its 200 day simple moving average is $44.18. The AZEK Company Inc. has a fifty-two week low of $27.81 and a fifty-two week high of $50.78. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 41.66, a P/E/G ratio of 1.14 and a beta of 1.88. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.07 and a quick ratio of 2.11.

AZEK (NYSE:AZEK) last posted its earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. AZEK had a net margin of 11.35% and a return on equity of 13.38%. The company had revenue of $434.40 million for the quarter, compared to analyst estimates of $396.89 million. During the same period last year, the business posted $0.29 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, sell-side analysts forecast that The AZEK Company Inc. will post 1.05 earnings per share for the current 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.