Kingswood Wealth Advisors LLC Buys Shares of 12,403 The AZEK Company Inc. (NYSE:AZEK)

Kingswood Wealth Advisors LLC purchased a new position in The AZEK Company Inc. (NYSE:AZEK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,403 shares of the company’s stock, valued at approximately $523,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in AZEK by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock valued at $677,082,000 after acquiring an additional 413,297 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of AZEK by 0.3% in the fourth quarter. Wellington Management Group LLP now owns 12,152,986 shares of the company’s stock worth $464,852,000 after purchasing an additional 42,132 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in AZEK by 7.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,632,693 shares of the company’s stock worth $291,951,000 after buying an additional 516,523 shares during the period. Wasatch Advisors LP lifted its holdings in AZEK by 1.5% during the 4th quarter. Wasatch Advisors LP now owns 2,216,800 shares of the company’s stock valued at $84,793,000 after buying an additional 31,752 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in AZEK by 1.7% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,487,700 shares of the company’s stock valued at $74,712,000 after buying an additional 25,515 shares in the last quarter. 97.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BMO Capital Markets lowered shares of AZEK from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $53.00 to $50.00 in a research report on Tuesday, July 23rd. Loop Capital decreased their target price on AZEK from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Benchmark began coverage on AZEK in a report on Friday, April 19th. They issued a “buy” rating and a $55.00 target price for the company. Citigroup cut their price target on AZEK from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Finally, Truist Financial reiterated a “buy” rating and set a $57.00 target price on shares of AZEK in a report on Tuesday, June 18th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $46.72.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total transaction of $542,750.00. Following the sale, the chief executive officer now directly owns 1,024,444 shares of the company’s stock, valued at $42,770,537. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other AZEK news, insider Jonathan Skelly sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total transaction of $560,640.00. Following the completion of the transaction, the insider now directly owns 190,134 shares of the company’s stock, valued at approximately $8,883,060.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total transaction of $542,750.00. Following the sale, the chief executive officer now owns 1,024,444 shares of the company’s stock, valued at $42,770,537. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,000 shares of company stock valued at $1,701,000. Insiders own 3.10% of the company’s stock.

AZEK Stock Down 11.3 %

Shares of AZEK stock traded down $4.71 during trading on Wednesday, reaching $36.81. The company’s stock had a trading volume of 7,627,014 shares, compared to its average volume of 1,741,693. The company has a 50-day simple moving average of $44.13 and a two-hundred day simple moving average of $45.39. The AZEK Company Inc. has a 1-year low of $25.03 and a 1-year high of $50.78. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 36.45, a P/E/G ratio of 1.28 and a beta of 1.88. The company has a quick ratio of 2.21, a current ratio of 3.40 and a debt-to-equity ratio of 0.42.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Friday, June 14th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. AZEK had a return on equity of 12.02% and a net margin of 10.66%. The business had revenue of $418.41 million for the quarter, compared to analyst estimates of $416.79 million. As a group, equities analysts forecast that The AZEK Company Inc. will post 1.06 earnings per share for the current year.

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.