Portside Wealth Group LLC Invests $241,000 in The AZEK Company Inc. (NYSE:AZEK)

Portside Wealth Group LLC purchased a new stake in The AZEK Company Inc. (NYSE:AZEK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,154 shares of the company’s stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Farther Finance Advisors LLC boosted its stake in AZEK by 183.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock valued at $35,000 after purchasing an additional 487 shares during the last quarter. Congress Asset Management Co. boosted its position in shares of AZEK by 15.5% during the third quarter. Congress Asset Management Co. now owns 327,298 shares of the company’s stock valued at $15,318,000 after buying an additional 43,984 shares during the last quarter. Diversify Wealth Management LLC grew its holdings in AZEK by 14.6% during the third quarter. Diversify Wealth Management LLC now owns 10,339 shares of the company’s stock worth $484,000 after buying an additional 1,317 shares in the last quarter. Lecap Asset Management Ltd. raised its position in AZEK by 16.3% in the 3rd quarter. Lecap Asset Management Ltd. now owns 47,308 shares of the company’s stock valued at $2,214,000 after buying an additional 6,615 shares during the last quarter. Finally, Private Advisor Group LLC bought a new position in AZEK during the 3rd quarter valued at $243,000. Institutional investors own 97.44% of the company’s stock.

Insiders Place Their Bets

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

AZEK Stock Up 1.1 %

AZEK opened at $47.04 on Friday. The AZEK Company Inc. has a 12 month low of $27.81 and a 12 month high of $50.78. The company has a market cap of $6.81 billion, a PE ratio of 41.63, a price-to-earnings-growth ratio of 1.17 and a beta of 1.88. The company has a current ratio of 3.07, a quick ratio of 2.11 and a debt-to-equity ratio of 0.41. The company has a 50 day moving average of $44.26 and a 200 day moving average of $44.17.

AZEK (NYSE:AZEK) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $396.89 million. AZEK had a return on equity of 13.38% and a net margin of 11.35%. The firm’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. On average, sell-side analysts expect that The AZEK Company Inc. will post 1.05 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Loop Capital lowered shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target on the stock. in a research report on Friday, October 4th. Royal Bank of Canada cut their target price on AZEK from $49.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target on AZEK from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. BMO Capital Markets boosted their price objective on AZEK from $46.00 to $49.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial decreased their target price on AZEK from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.