Raymond James Financial Inc. acquired a new stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 409,440 shares of the company's stock, valued at approximately $19,436,000. Raymond James Financial Inc. owned about 0.29% of AZEK at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in shares of AZEK in the fourth quarter valued at approximately $717,000. M&T Bank Corp grew its holdings in AZEK by 4.1% during the fourth quarter. M&T Bank Corp now owns 15,062 shares of the company's stock worth $715,000 after acquiring an additional 589 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in AZEK by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,169,551 shares of the company's stock worth $55,519,000 after acquiring an additional 24,249 shares during the period. Norden Group LLC grew its holdings in AZEK by 2.4% during the fourth quarter. Norden Group LLC now owns 21,204 shares of the company's stock worth $1,007,000 after acquiring an additional 496 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in AZEK by 13.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company's stock worth $146,000 after acquiring an additional 352 shares during the period. Hedge funds and other institutional investors own 97.44% of the company's stock.
AZEK Trading Down 0.4 %
Shares of AZEK stock traded down $0.18 during trading hours on Thursday, reaching $41.73. The stock had a trading volume of 1,713,103 shares, compared to its average volume of 1,646,016. The firm has a 50 day simple moving average of $47.48 and a two-hundred day simple moving average of $47.14. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 42.15, a P/E/G ratio of 1.91 and a beta of 1.95. 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 AZEK Company Inc. has a 1 year low of $35.48 and a 1 year high of $54.91.
AZEK (NYSE:AZEK - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, topping 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%. As a group, equities research analysts anticipate 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 15,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $41.03, for a total value of $615,450.00. Following the completion of the sale, the chief executive officer now owns 868,765 shares in the company, valued at approximately $35,645,427.95. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 55,000 shares of company stock worth $2,518,624. 3.20% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on AZEK shares. Benchmark reaffirmed a "buy" rating and set a $55.00 price objective on shares of AZEK in a report on Thursday, November 21st. The Goldman Sachs Group upped their price objective on AZEK from $52.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. DA Davidson upped their price objective on AZEK from $44.00 to $50.00 and gave the company a "neutral" rating in a research report on Wednesday, November 20th. Citigroup upgraded AZEK from a "neutral" rating to a "buy" rating and increased their target price for the stock from $51.00 to $60.00 in a research report on Monday, January 6th. Finally, 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 report on Wednesday, February 5th. Four research 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 an average rating of "Moderate Buy" and an average price target of $54.85.
Check Out Our Latest Analysis on AZEK
AZEK Profile
(
Free Report)
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.
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