Charles Schwab Investment Management Inc. Grows Stake in The AZEK Company Inc. (NYSE:AZEK)

Charles Schwab Investment Management Inc. boosted its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,169,551 shares of the company's stock after purchasing an additional 24,249 shares during the period. Charles Schwab Investment Management Inc. owned about 0.82% of AZEK worth $55,519,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Empowered Funds LLC bought a new position in AZEK in the 4th quarter valued at approximately $27,000. Farther Finance Advisors LLC increased its position in AZEK by 183.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 753 shares of the company's stock valued at $35,000 after acquiring an additional 487 shares during the period. GAMMA Investing LLC increased its position in AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company's stock valued at $40,000 after acquiring an additional 239 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of AZEK during the third quarter valued at $59,000. Finally, Millburn Ridgefield Corp acquired a new position in shares of AZEK during the third quarter worth $84,000. Institutional investors and hedge funds own 97.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AZEK. Truist Financial raised their target price on AZEK from $52.00 to $57.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Robert W. Baird lifted their price objective on AZEK from $54.00 to $58.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. upped their target price on AZEK from $48.00 to $58.00 and gave the company an "overweight" rating in a report on Monday, November 25th. Royal Bank of Canada raised their price target on shares of AZEK from $50.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Finally, Barclays upped their price objective on shares of AZEK from $58.00 to $64.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $54.85.

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Insider Buying and Selling at AZEK

In other AZEK news, CMO Samara Toole sold 1,709 shares of the business's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total value of $90,577.00. Following the sale, the chief marketing officer now directly owns 16,632 shares in the company, valued at $881,496. The trade was a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jesse G. Singh sold 19,613 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $44.98, for a total value of $882,192.74. Following the transaction, the chief executive officer now owns 904,152 shares of the company's stock, valued at $40,668,756.96. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,709 shares of company stock worth $2,609,201. Corporate insiders own 3.20% of the company's stock.

AZEK Stock Up 0.3 %

Shares of AZEK traded up $0.14 during trading hours on Monday, hitting $41.36. The stock had a trading volume of 1,741,415 shares, compared to its average volume of 1,642,130. The firm has a 50 day simple moving average of $47.82 and a 200-day simple moving average of $47.20. The AZEK Company Inc. has a 1-year low of $35.48 and a 1-year high of $54.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The firm has a market capitalization of $5.94 billion, a P/E ratio of 41.78, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Sell-side analysts predict that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

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.