Proficio Capital Partners LLC Takes $717,000 Position in The AZEK Company Inc. (NYSE:AZEK)

Proficio Capital Partners LLC bought a new position in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,095 shares of the company's stock, valued at approximately $717,000.

Several other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of AZEK by 33.8% in the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company's stock worth $665,702,000 after buying an additional 3,595,863 shares in the last quarter. FMR LLC raised its position in AZEK by 57.9% during the third quarter. FMR LLC now owns 6,811,591 shares of the company's stock valued at $318,782,000 after purchasing an additional 2,497,074 shares during the period. State Street Corp raised its position in AZEK by 1.9% during the third quarter. State Street Corp now owns 2,451,483 shares of the company's stock valued at $114,729,000 after purchasing an additional 45,774 shares during the period. Geode Capital Management LLC increased its position in AZEK by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company's stock valued at $109,105,000 after acquiring an additional 12,644 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in AZEK by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company's stock valued at $93,564,000 after acquiring an additional 90,206 shares during the last quarter. Hedge funds and other institutional investors own 97.44% of the company's stock.

AZEK Trading Down 3.4 %

NYSE:AZEK opened at $43.25 on Friday. The firm has a fifty day simple moving average of $48.54 and a 200-day simple moving average of $47.25. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $6.21 billion, a P/E ratio of 43.69, a PEG ratio of 1.91 and a beta of 1.95. The AZEK Company Inc. has a 12 month low of $35.48 and a 12 month high of $54.91.

Remove Ads

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on AZEK shares. Robert W. Baird increased their target price on AZEK from $54.00 to $58.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 5th. BMO Capital Markets raised their price target on AZEK from $52.00 to $54.00 and gave the company a "market perform" rating in a research note on Thursday, February 6th. Benchmark reissued a "buy" rating and set a $55.00 price objective on shares of AZEK in a report on Thursday, November 21st. DA Davidson lifted their target price on AZEK from $44.00 to $50.00 and gave the company a "neutral" rating in a research note on Wednesday, November 20th. Finally, Citigroup raised shares of AZEK from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $51.00 to $60.00 in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, AZEK currently has a consensus rating of "Moderate Buy" and an average target price of $54.85.

Insider Activity

In related news, CEO Jesse G. Singh sold 20,000 shares of the company's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $53.32, for a total value of $1,066,400.00. Following the completion of the transaction, the chief executive officer now owns 923,765 shares of the company's stock, valued at approximately $49,255,149.80. This represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Samara Toole sold 1,709 shares of the company's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total transaction of $90,577.00. Following the transaction, the chief marketing officer now owns 16,632 shares of the company's stock, valued at $881,496. This represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,709 shares of company stock valued at $3,060,151 in the last quarter. 3.20% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.