Wedmont Private Capital Makes New $287,000 Investment in The AZEK Company Inc. (NYSE:AZEK)

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new stake in AZEK during the 4th quarter valued at $27,000. FIL Ltd acquired a new stake in AZEK during the fourth quarter worth $28,000. NBC Securities Inc. purchased a new stake in AZEK during the first quarter worth about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in AZEK by 623.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company's stock valued at $33,000 after purchasing an additional 592 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of AZEK by 261.4% during the first quarter. Parallel Advisors LLC now owns 683 shares of the company's stock worth $33,000 after purchasing an additional 494 shares during the last quarter. Institutional investors own 97.44% of the company's stock.

Insiders Place Their Bets

In related news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction on 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 directly owns 852,765 shares in the company, 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 available at the SEC website. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

AZEK has been the topic of several analyst reports. Stephens dropped their target price on AZEK from $58.00 to $53.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. BMO Capital Markets boosted their target price on AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a research note on Monday, March 24th. Wolfe Research reaffirmed a "peer perform" rating on shares of AZEK in a report on Wednesday, March 26th. Raymond James set a $51.50 target price on shares of AZEK in a research report on Tuesday, March 25th. Finally, Baird R W cut shares of AZEK from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $53.93.

AZEK Stock Down 1.5%

Shares of NYSE:AZEK traded down $0.82 during trading on Friday, reaching $53.33. 1,781,173 shares of the stock traded hands, compared to its average volume of 2,408,721. The stock has a market cap of $7.67 billion, a P/E ratio of 53.87, a price-to-earnings-growth ratio of 1.91 and a beta of 1.82. The stock has a 50-day moving average of $49.77 and a two-hundred day moving average of $48.89. The AZEK Company Inc. has a 52-week low of $35.48 and a 52-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.

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. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The firm had revenue of $452.23 million during the quarter, compared to analyst estimates of $444.75 million. During the same quarter last year, the business earned $0.39 EPS. The business's revenue 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 earnings per share for the current fiscal year.

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.