Raymond James & Associates Boosts Stake in The AZEK Company Inc. (NYSE:AZEK)

Raymond James & Associates lifted its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 290.8% during the second quarter, Holdings Channel reports. The fund owned 121,623 shares of the company’s stock after purchasing an additional 90,499 shares during the quarter. Raymond James & Associates’ holdings in AZEK were worth $5,124,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Federated Hermes Inc. increased its holdings in AZEK by 80.4% during the 4th quarter. Federated Hermes Inc. now owns 4,353 shares of the company’s stock worth $167,000 after purchasing an additional 1,940 shares during the last quarter. CWM LLC increased its stake in shares of AZEK by 81.3% in the fourth quarter. CWM LLC now owns 2,022 shares of the company’s stock worth $77,000 after buying an additional 907 shares during the last quarter. California Public Employees Retirement System raised its holdings in AZEK by 4.5% in the fourth quarter. California Public Employees Retirement System now owns 249,251 shares of the company’s stock valued at $9,534,000 after acquiring an additional 10,690 shares in the last quarter. Norden Group LLC boosted its stake in AZEK by 57.8% during the 4th quarter. Norden Group LLC now owns 10,809 shares of the company’s stock valued at $413,000 after acquiring an additional 3,958 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in AZEK by 5.9% during the 4th quarter. Amalgamated Bank now owns 27,634 shares of the company’s stock worth $1,057,000 after acquiring an additional 1,529 shares in the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.

Insider Buying and Selling

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $41.47, for a total transaction of $829,400.00. Following the transaction, the chief executive officer now owns 186,705 shares of the company’s stock, valued at approximately $7,742,656.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total value of $542,750.00. Following the sale, the chief executive officer now owns 1,024,444 shares of the company’s stock, valued at approximately $42,770,537. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $41.47, for a total value of $829,400.00. Following 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 disclosure for this sale can be found here. Insiders sold 45,000 shares of company stock valued at $1,932,790 over the last 90 days. 3.10% of the stock is currently owned by company insiders.

AZEK Stock Performance

AZEK opened at $41.87 on Thursday. The AZEK Company Inc. has a twelve month low of $25.03 and a twelve month high of $50.78. The stock has a market cap of $6.09 billion, a PE ratio of 41.05, a price-to-earnings-growth ratio of 1.28 and a beta of 1.88. The business’s 50 day moving average is $42.39 and its 200-day moving average is $45.44. The company has a current ratio of 3.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.42.

AZEK (NYSE:AZEK) last announced its 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. AZEK had a return on equity of 12.02% and a net margin of 10.66%. The firm had revenue of $434.40 million for the quarter, compared to the consensus estimate of $396.89 million. During the same quarter in the previous year, the business earned $0.29 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts predict that The AZEK Company Inc. will post 1.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AZEK. Stifel Nicolaus cut their target price on shares of AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Loop Capital cut their price objective on AZEK from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. JPMorgan Chase & Co. decreased their target price on AZEK from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Benchmark reissued a “buy” rating and set a $55.00 price target on shares of AZEK in a research report on Friday, August 9th. Finally, UBS Group decreased their price objective on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.24.

AZEK Profile

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.