Valmark Advisers Inc. Invests $795,000 in The AZEK Company Inc. (NYSE:AZEK)

Valmark Advisers Inc. acquired a new position in The AZEK Company Inc. (NYSE:AZEK - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,270 shares of the company's stock, valued at approximately $795,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Truist Financial Corp increased its stake in shares of AZEK by 1.6% in the fourth quarter. Truist Financial Corp now owns 16,706 shares of the company's stock worth $793,000 after purchasing an additional 255 shares in the last quarter. Investment House LLC increased its stake in shares of AZEK by 0.7% in 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 in the last quarter. Federated Hermes Inc. increased its stake in shares of AZEK by 4.8% in 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 in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of AZEK by 13.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company's stock worth $146,000 after purchasing an additional 352 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its stake in shares of AZEK by 4.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 8,171 shares of the company's stock worth $388,000 after purchasing an additional 379 shares in the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AZEK has been the subject of several research analyst reports. BMO Capital Markets raised their target price on shares of AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a research note on Monday, March 24th. Citigroup reaffirmed a "neutral" rating and set a $51.50 target price (down from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Loop Capital cut their target price on shares of AZEK from $55.00 to $49.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. William Blair reaffirmed a "market perform" rating on shares of AZEK in a research note on Monday, March 24th. Finally, Robert W. Baird raised their target price on shares of AZEK from $48.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $53.93.

Insider Buying and Selling

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

AZEK Price Performance

AZEK stock opened at $51.80 on Wednesday. The company has a fifty day simple moving average of $50.50 and a two-hundred day simple moving average of $48.82. The firm has a market capitalization of $7.45 billion, a P/E ratio of 50.79 and a beta of 1.82. The company has a quick ratio of 1.47, a current ratio of 2.45 and a debt-to-equity ratio of 0.29. The AZEK Company Inc. has a 52 week low of $35.48 and a 52 week high of $54.91.

AZEK (NYSE:AZEK - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The firm had revenue of $452.23 million during the quarter, compared to analyst estimates of $444.75 million. AZEK had a net margin of 9.92% and a return on equity of 13.87%. The business's revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business earned $0.39 EPS. Analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal 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.

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