Covestor Ltd Boosts Stake in The AZEK Company Inc. (NYSE:AZEK)

Covestor Ltd increased its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 631.8% in the first quarter, HoldingsChannel reports. The firm owned 2,393 shares of the company’s stock after acquiring an additional 2,066 shares during the quarter. Covestor Ltd’s holdings in AZEK were worth $120,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC raised its stake in shares of AZEK by 58.9% during the 1st quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock valued at $36,000 after buying an additional 262 shares during the last quarter. ORG Partners LLC acquired a new position in shares of AZEK in the 1st quarter valued at $35,000. Quadrant Capital Group LLC raised its position in shares of AZEK by 45.9% in the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock worth $28,000 after acquiring an additional 229 shares during the period. Whittier Trust Co. acquired a new position in AZEK in the 1st quarter worth about $37,000. Finally, Principal Securities Inc. purchased a new position in AZEK during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. The Goldman Sachs Group reduced their target price on AZEK from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Truist Financial reaffirmed a “buy” rating and set a $57.00 price objective on shares of AZEK in a report on Tuesday, June 18th. DA Davidson downgraded shares of AZEK from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $57.00 to $44.00 in a research report on Wednesday, July 3rd. Citigroup lowered their price objective on AZEK from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, Robert W. Baird decreased their target price on AZEK from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.72.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total transaction of $542,750.00. Following the completion of the sale, the chief executive officer now directly owns 1,024,444 shares of the company’s stock, valued at approximately $42,770,537. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other AZEK news, insider Jonathan Skelly sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total transaction of $560,640.00. Following the transaction, the insider now owns 190,134 shares of the company’s stock, valued at $8,883,060.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total value of $542,750.00. Following the completion of the sale, the chief executive officer now directly owns 1,024,444 shares of the company’s stock, valued at $42,770,537. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock worth $1,701,000 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

AZEK Trading Down 3.9 %

Shares of AZEK stock traded down $1.80 on Tuesday, hitting $43.85. The stock had a trading volume of 802,047 shares, compared to its average volume of 1,693,175. The company’s 50 day moving average price is $44.90 and its 200-day moving average price is $44.90. The firm has a market capitalization of $6.38 billion, a P/E ratio of 44.77, a P/E/G ratio of 1.39 and a beta of 1.88. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.40 and a quick ratio of 2.21. The AZEK Company Inc. has a 1 year low of $25.03 and a 1 year high of $50.78.

AZEK (NYSE:AZEK) last released its earnings results on Friday, June 14th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. The firm had revenue of $418.41 million during the quarter, compared to analysts’ expectations of $416.79 million. AZEK had a return on equity of 12.02% and a net margin of 10.66%. Analysts anticipate that The AZEK Company Inc. will post 1.06 earnings per share for the current year.

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.