Wealthfront Advisers LLC Makes New Investment in The AZEK Company Inc. (NYSE:AZEK)

Wealthfront Advisers LLC purchased a new stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 321,699 shares of the company's stock, valued at approximately $15,271,000. Wealthfront Advisers LLC owned 0.22% of AZEK at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in AZEK by 33.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company's stock worth $665,702,000 after purchasing an additional 3,595,863 shares during the last quarter. FMR LLC grew its stake in AZEK by 57.9% in the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company's stock valued at $318,782,000 after buying an additional 2,497,074 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in AZEK by 73.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,006,253 shares of the company's stock worth $47,093,000 after buying an additional 425,609 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of AZEK during the 4th quarter worth $19,436,000. Finally, Gradient Investments LLC increased its position in AZEK by 834.9% in the 4th quarter. Gradient Investments LLC now owns 410,233 shares of the company's stock valued at $19,474,000 after acquiring an additional 366,352 shares during the period. Institutional investors and hedge funds own 97.44% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on AZEK. Citigroup raised shares of AZEK from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $51.00 to $60.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. raised their price objective on AZEK from $48.00 to $58.00 and gave the company an "overweight" rating in a research note on Monday, November 25th. DA Davidson raised their target price on shares of AZEK from $44.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 20th. Robert W. Baird lifted their price target on AZEK from $54.00 to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 5th. Finally, Barclays upped their target price on shares of AZEK from $58.00 to $64.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, AZEK presently has a consensus rating of "Moderate Buy" and an average price target of $54.85.

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AZEK Stock Down 0.7 %

AZEK stock opened at $40.08 on Wednesday. The company has a 50 day moving average price of $48.25 and a two-hundred day moving average price of $47.24. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91. The stock has a market capitalization of $5.76 billion, a P/E ratio of 40.48, a PEG ratio of 1.91 and a beta of 1.95. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56.

AZEK (NYSE:AZEK - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) 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%. As a group, sell-side analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current year.

Insider Activity

In related news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction on 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 in the company, valued at $49,255,149.80. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Samara Toole sold 1,709 shares of AZEK stock in a transaction that occurred 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 in the company, valued at approximately $881,496. The trade was a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,709 shares of company stock valued at $3,675,601. 3.20% of the stock is currently owned by insiders.

AZEK Company 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.

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