Gradient Investments LLC Boosts Stake in The AZEK Company Inc. (NYSE:AZEK)

Gradient Investments LLC increased its holdings in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 22.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 500,944 shares of the company's stock after acquiring an additional 90,711 shares during the quarter. Gradient Investments LLC owned about 0.35% of AZEK worth $24,491,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of AZEK by 80.7% during the 4th quarter. FMR LLC now owns 12,311,577 shares of the company's stock worth $584,431,000 after buying an additional 5,499,986 shares during the last quarter. Norges Bank bought a new stake in shares of AZEK during the 4th quarter worth $94,987,000. Balyasny Asset Management L.P. lifted its position in shares of AZEK by 493.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,681,629 shares of the company's stock worth $79,827,000 after buying an additional 1,398,340 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of AZEK by 72.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company's stock worth $92,903,000 after buying an additional 823,588 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in shares of AZEK by 4,255.1% during the 4th quarter. Tidal Investments LLC now owns 461,076 shares of the company's stock worth $21,887,000 after buying an additional 450,489 shares during the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AZEK

In other news, CEO Jesse G. Singh sold 15,000 shares of AZEK 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 completion of the transaction, the chief executive officer now directly owns 868,765 shares in the company, valued at approximately $35,645,427.95. The trade was a 1.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.20% of the company's stock.

AZEK Stock Up 1.9%

AZEK stock traded up $1.01 during mid-day trading on Thursday, reaching $53.61. The stock had a trading volume of 1,134,672 shares, compared to its average volume of 2,350,437. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. 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 stock's 50-day simple moving average is $48.82 and its 200-day simple moving average is $48.71. The firm has a market capitalization of $7.71 billion, a PE ratio of 54.15, a price-to-earnings-growth ratio of 1.91 and a beta of 1.82.

AZEK (NYSE:AZEK - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. The business had revenue of $452.23 million for the quarter, compared to analyst estimates of $444.75 million. AZEK had a return on equity of 13.47% and a net margin of 9.85%. AZEK's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company posted $0.39 earnings per share. On average, sell-side analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on AZEK shares. Baird R W downgraded AZEK from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Loop Capital dropped their target price on AZEK from $55.00 to $49.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Robert W. Baird increased their target price on AZEK from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. BMO Capital Markets increased their target price on AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a research report on Monday, March 24th. Finally, Raymond James set a $51.50 target price on AZEK in a research report on Tuesday, March 25th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $53.93.

AZEK 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.