29,817 Shares in The AZEK Company Inc. (NYSE:AZEK) Acquired by Redwood Investment Management LLC

Redwood Investment Management LLC acquired a new stake in The AZEK Company Inc. (NYSE:AZEK) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 29,817 shares of the company’s stock, valued at approximately $1,415,000.

Other institutional investors have also recently bought and sold shares of the company. Truist Financial Corp raised its position in shares of AZEK by 1.6% during the fourth quarter. Truist Financial Corp now owns 16,706 shares of the company’s stock worth $793,000 after acquiring an additional 255 shares during the last quarter. Investment House LLC grew its stake in shares of AZEK by 0.7% during the fourth quarter. Investment House LLC now owns 39,255 shares of the company’s stock worth $1,863,000 after purchasing an additional 290 shares during the period. Federated Hermes Inc. grew its stake in shares of AZEK by 4.8% during the fourth quarter. Federated Hermes Inc. now owns 6,984 shares of the company’s stock worth $332,000 after purchasing an additional 318 shares during the period. Smartleaf Asset Management LLC grew its stake in AZEK by 13.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company’s stock valued at $146,000 after acquiring an additional 352 shares during the period. Finally, Integrated Wealth Concepts LLC grew its stake in AZEK by 4.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 8,171 shares of the company’s stock valued at $388,000 after acquiring an additional 379 shares during the period. Institutional investors own 97.44% of the company’s stock.

Wall Street Analysts Forecast Growth

AZEK has been the subject of a number of research analyst reports. Citigroup reissued a “neutral” rating and issued a $51.50 target price (down from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Barclays upped their target price on AZEK from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. UBS Group dropped their target price on AZEK from $55.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. BMO Capital Markets upped their target price on AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, March 24th. Finally, Loop Capital dropped their price objective on AZEK from $55.00 to $49.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, AZEK presently has a consensus rating of “Hold” and an average price target of $53.93.

Insider Activity at AZEK

In other news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the completion of the transaction, the chief executive officer now directly owns 852,765 shares of the company’s stock, valued at approximately $43,832,121. This trade represents a 2.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.20% of the stock is currently owned by company insiders.

AZEK Trading Down 0.3%

NYSE AZEK opened at $51.19 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 51.71, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The business’s fifty day moving average is $47.29 and its 200 day moving average is $48.34.

AZEK (NYSE:AZEK) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. AZEK had a return on equity of 13.47% and a net margin of 9.85%. The company had revenue of $452.23 million for the quarter, compared to the consensus estimate of $444.75 million. During the same quarter last year, the business posted $0.39 EPS. AZEK’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, sell-side analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

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.