Wedmont Private Capital Takes $287,000 Position in The AZEK Company Inc. (NYSE:AZEK)

Wedmont Private Capital acquired a new position in The AZEK Company Inc. (NYSE:AZEK - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,061 shares of the company's stock, valued at approximately $287,000.

Several other institutional investors and hedge funds have also bought and sold shares of AZEK. Vanguard Group Inc. boosted its stake in shares of AZEK by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company's stock worth $685,032,000 after acquiring an additional 54,725 shares during the last quarter. FMR LLC lifted its position in AZEK by 80.7% during the fourth quarter. FMR LLC now owns 12,311,577 shares of the company's stock valued at $584,431,000 after acquiring an additional 5,499,986 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of AZEK by 15.0% in the fourth quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company's stock worth $156,396,000 after buying an additional 429,574 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of AZEK by 11.6% in the fourth quarter. Wasatch Advisors LP now owns 2,084,014 shares of the company's stock worth $98,928,000 after acquiring an additional 216,849 shares during the period. Finally, Norges Bank purchased a new position in AZEK in the fourth quarter valued at $94,987,000. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction on 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 in the company, valued at approximately $43,832,121. This represents a 2.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is owned by company insiders.

AZEK Price Performance

NYSE:AZEK traded down $0.82 during mid-day trading on Friday, hitting $53.33. The company's stock had a trading volume of 1,781,173 shares, compared to its average volume of 2,403,619. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 53.87, a P/E/G ratio of 1.91 and a beta of 1.82. The stock has a fifty day moving average of $49.77 and a 200-day moving average of $48.92. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.01. The firm had revenue of $452.23 million for the quarter, compared to analysts' expectations of $444.75 million. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The business's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the firm earned $0.39 earnings per share. As a group, equities analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on AZEK. Loop Capital cut their target price on AZEK from $55.00 to $49.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Citigroup reiterated a "neutral" rating and set a $51.50 target price (down previously from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Barclays increased their price target on AZEK from $53.00 to $57.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. William Blair reissued a "market perform" rating on shares of AZEK in a research report on Monday, March 24th. Finally, Baird R W downgraded AZEK from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $53.93.

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.