Wealthfront Advisers LLC Invests $15.27 Million in The AZEK Company Inc. (NYSE:AZEK)

Wealthfront Advisers LLC bought a new position in shares of The AZEK Company Inc. (NYSE:AZEK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 321,699 shares of the company’s stock, valued at approximately $15,271,000.

Several other institutional investors also recently modified their holdings of AZEK. GAMMA Investing LLC raised its holdings in AZEK by 39.1% during the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after buying an additional 239 shares during the period. Truist Financial Corp increased its position in 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 buying an additional 255 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in AZEK by 13.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company’s stock valued at $146,000 after purchasing an additional 352 shares during the last quarter. Covestor Ltd lifted its stake in shares of AZEK by 18.8% during the 3rd quarter. Covestor Ltd now owns 2,758 shares of the company’s stock worth $129,000 after buying an additional 436 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of AZEK by 183.1% during the third quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock worth $35,000 after purchasing an additional 487 shares during the period. Institutional investors and hedge funds own 97.44% of the company’s stock.

Insider Transactions at AZEK

In related news, CMO Samara Toole sold 1,709 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $53.00, for a total value of $90,577.00. Following the sale, the chief marketing officer now directly owns 16,632 shares in the company, valued at approximately $881,496. The trade was a 9.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jesse G. Singh sold 15,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $41.03, for a total value of $615,450.00. Following the transaction, the chief executive officer now owns 868,765 shares of the company’s stock, valued at approximately $35,645,427.95. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,709 shares of company stock valued at $3,675,601 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

AZEK has been the subject of a number of analyst reports. BMO Capital Markets boosted their price target on AZEK from $52.00 to $54.00 and gave the company a “market perform” rating in a research note on Thursday, February 6th. DA Davidson boosted their target price on shares of AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group increased their price target on shares of AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. raised their target price on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, Barclays upped their price objective on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.85.

AZEK Price Performance

Shares of AZEK opened at $40.08 on Wednesday. The stock has a market capitalization of $5.76 billion, a PE ratio of 40.48, a PEG ratio of 1.91 and a beta of 1.95. The company has a 50 day moving average price of $48.25 and a 200-day moving average price of $47.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91.

AZEK (NYSE:AZEK) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Equities analysts predict that The AZEK Company Inc. will post 1.34 earnings per share 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.