Raymond James Financial Inc. Takes Position in The AZEK Company Inc. (NYSE:AZEK)

Raymond James Financial Inc. acquired a new position in The AZEK Company Inc. (NYSE:AZEK - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 409,440 shares of the company's stock, valued at approximately $19,436,000. Raymond James Financial Inc. owned 0.29% of AZEK as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in AZEK by 4.7% in the third quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company's stock valued at $93,564,000 after buying an additional 90,206 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of AZEK by 24.7% during the third quarter. Stifel Financial Corp now owns 22,481 shares of the company's stock worth $1,052,000 after buying an additional 4,454 shares during the period. Blue Trust Inc. raised its stake in AZEK by 94.2% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the company's stock valued at $85,000 after acquiring an additional 877 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in AZEK by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,169,551 shares of the company's stock worth $55,519,000 after acquiring an additional 24,249 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in AZEK in the 4th quarter valued at $717,000. Institutional investors and hedge funds own 97.44% of the company's stock.

Insiders Place Their Bets

In related news, CEO Jesse G. Singh sold 15,000 shares of the 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 sale, the chief executive officer now directly owns 868,765 shares in the company, valued at $35,645,427.95. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AZEK shares. Loop Capital lowered their price target on AZEK from $55.00 to $49.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Barclays lowered their price target on AZEK from $64.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Baird R W lowered shares of AZEK from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. William Blair reiterated a "market perform" rating on shares of AZEK in a research note on Monday, March 24th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of AZEK in a report on Wednesday, March 26th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $53.53.

AZEK Trading Down 0.5 %

NYSE AZEK traded down $0.24 during trading on Friday, reaching $49.25. 244,346 shares of the stock traded hands, compared to its average volume of 2,195,653. 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 quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of 49.73, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The stock's 50-day moving average price is $45.86 and its 200 day moving average price is $47.62.

AZEK (NYSE:AZEK - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Analysts predict that The AZEK Company Inc. will post 1.34 EPS for the current 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.