Proficio Capital Partners LLC Takes Position in The AZEK Company Inc. (NYSE:AZEK)

Proficio Capital Partners LLC bought a new stake in shares of The AZEK Company Inc. (NYSE:AZEK) in the fourth quarter, Holdings Channel reports. The institutional investor bought 15,095 shares of the company’s stock, valued at approximately $717,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. M&T Bank Corp boosted its position in shares of AZEK by 4.1% during the 4th quarter. M&T Bank Corp now owns 15,062 shares of the company’s stock valued at $715,000 after acquiring an additional 589 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of AZEK by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,169,551 shares of the company’s stock valued at $55,519,000 after acquiring an additional 24,249 shares during the last quarter. Norden Group LLC boosted its position in shares of AZEK by 2.4% during the 4th quarter. Norden Group LLC now owns 21,204 shares of the company’s stock valued at $1,007,000 after acquiring an additional 496 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in AZEK by 13.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company’s stock valued at $146,000 after buying an additional 352 shares during the period. Finally, Brown Financial Advisors purchased a new stake in AZEK during the 4th quarter valued at $1,063,000. 97.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AZEK shares. Royal Bank of Canada increased their price target on AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup upgraded AZEK from a “neutral” rating to a “buy” rating and increased their price target for the company from $51.00 to $60.00 in a report on Monday, January 6th. Robert W. Baird increased their price target on AZEK from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Barclays increased their price target on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, The Goldman Sachs Group increased their price target on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.85.

AZEK Stock Performance

AZEK stock opened at $41.39 on Friday. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 1.91 and a beta of 1.95. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The business’s fifty day simple moving average is $47.32 and its two-hundred day simple moving average is $47.14.

AZEK (NYSE:AZEK) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. Analysts predict that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

Insider Activity

In other news, CEO Jesse G. Singh sold 19,613 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $44.98, for a total transaction of $882,192.74. Following the transaction, the chief executive officer now owns 904,152 shares in the company, valued at approximately $40,668,756.96. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 55,000 shares of company stock worth $2,518,624. Company insiders own 3.20% of the company’s stock.

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.