iA Global Asset Management Inc. Grows Position in The AZEK Company Inc. (NYSE:AZEK)

iA Global Asset Management Inc. raised its holdings in The AZEK Company Inc. (NYSE:AZEK) by 52.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,010 shares of the company’s stock after purchasing an additional 6,894 shares during the period. iA Global Asset Management Inc.’s holdings in AZEK were worth $843,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its holdings in AZEK by 58.9% in the 1st quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock worth $36,000 after buying an additional 262 shares during the period. ORG Partners LLC bought a new position in shares of AZEK in the first quarter worth $35,000. Quadrant Capital Group LLC boosted its holdings 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. bought a new stake in shares of AZEK during the 1st quarter valued at $37,000. Finally, Principal Securities Inc. purchased a new stake in AZEK during the 4th quarter worth about $44,000. Institutional investors own 97.44% of the company’s stock.

Wall Street Analyst Weigh In

AZEK has been the subject of several analyst reports. Benchmark restated a “buy” rating and issued a $55.00 target price on shares of AZEK in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their price objective on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Barclays decreased their target price on shares of AZEK from $58.00 to $52.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. UBS Group cut their price target on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Truist Financial decreased their price target on shares of AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, AZEK has an average rating of “Moderate Buy” and an average target price of $48.24.

AZEK Stock Performance

NYSE:AZEK opened at $42.62 on Friday. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 41.78, a PEG ratio of 1.28 and a beta of 1.88. The business has a 50 day moving average of $42.26 and a 200 day moving average of $45.40. 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 posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. AZEK had a net margin of 10.66% and a return on equity of 12.02%. The firm had revenue of $434.40 million for the quarter, compared to the consensus estimate of $396.89 million. During the same period last year, the firm posted $0.29 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts predict that The AZEK Company Inc. will post 1.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $41.47, for a total transaction of $829,400.00. Following the transaction, the chief executive officer now directly owns 186,705 shares of the company’s stock, valued at $7,742,656.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other AZEK news, insider Jonathan Skelly sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total value of $560,640.00. Following the completion of the sale, the insider now owns 190,134 shares in the company, valued at $8,883,060.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $41.47, for a total transaction of $829,400.00. Following the completion of the transaction, the chief executive officer now owns 186,705 shares in the company, valued at approximately $7,742,656.35. The disclosure for this sale can be found here. Insiders have sold a total of 45,000 shares of company stock worth $1,932,790 in the last 90 days. 3.10% of the stock is owned by company insiders.

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.