Covestor Ltd Increases Holdings in The AZEK Company Inc. (NYSE:AZEK)

Covestor Ltd boosted its position in The AZEK Company Inc. (NYSE:AZEK) by 18.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,758 shares of the company’s stock after buying an additional 436 shares during the period. Covestor Ltd’s holdings in AZEK were worth $129,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV acquired a new stake in shares of AZEK during the 2nd quarter valued at about $86,719,000. Price T Rowe Associates Inc. MD lifted its holdings in AZEK by 66.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock valued at $73,631,000 after acquiring an additional 587,107 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of AZEK in the 1st quarter valued at approximately $26,360,000. Interval Partners LP boosted its position in shares of AZEK by 162.4% during the second quarter. Interval Partners LP now owns 742,749 shares of the company’s stock worth $31,292,000 after buying an additional 459,664 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of AZEK by 3.2% during the first quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock worth $677,082,000 after purchasing an additional 413,297 shares in the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AZEK. Royal Bank of Canada decreased their price objective on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price target on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Benchmark reaffirmed a “buy” rating and set a $55.00 price target on shares of AZEK in a research note on Friday, August 9th. UBS Group dropped their price objective on AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, 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. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, AZEK has a consensus rating of “Moderate Buy” and an average target price of $48.12.

Insider Activity

In other news, Director Pamela J. Edwards bought 600 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $41.70 per share, with a total value 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. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $41.47, for a total value of $829,400.00. Following the completion of the sale, the chief executive officer now directly owns 186,705 shares of the company’s stock, valued at approximately $7,742,656.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pamela J. Edwards bought 600 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $41.70 per share, with a total value of $25,020.00. Following the purchase, the director now directly owns 8,708 shares in the company, valued at approximately $363,123.60. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.10% of the company’s stock.

AZEK Stock Performance

Shares of AZEK opened at $47.92 on Tuesday. The firm has a market capitalization of $6.93 billion, a PE ratio of 42.40, a P/E/G ratio of 1.21 and a beta of 1.88. The company has a quick ratio of 2.11, a current ratio of 3.07 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $44.36 and a 200 day moving average price of $44.17. The AZEK Company Inc. has a 52-week low of $28.21 and a 52-week high of $50.78.

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.