Park Avenue Securities LLC Makes New Investment in The AZEK Company Inc. (NYSE:AZEK)

Park Avenue Securities LLC acquired a new stake in shares of The AZEK Company Inc. (NYSE:AZEK) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,527 shares of the company’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in AZEK. Quadrant Capital Group LLC boosted its position in AZEK by 45.9% during the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after buying an additional 229 shares during the period. Principal Securities Inc. bought a new stake in shares of AZEK in the fourth quarter worth about $44,000. CWM LLC increased its holdings in AZEK by 81.3% during the 4th quarter. CWM LLC now owns 2,022 shares of the company’s stock valued at $77,000 after purchasing an additional 907 shares during the period. Federated Hermes Inc. raised its position in AZEK by 80.4% during the 4th quarter. Federated Hermes Inc. now owns 4,353 shares of the company’s stock valued at $167,000 after purchasing an additional 1,940 shares during the last quarter. Finally, Bailard Inc. bought a new position in shares of AZEK during the fourth quarter valued at approximately $203,000. Institutional investors own 97.44% of the company’s stock.

Insider Buying and Selling at AZEK

In other news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $48.30, for a total value of $627,900.00. Following the transaction, the chief executive officer now directly owns 1,083,444 shares in the company, valued at approximately $52,330,345.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other AZEK news, insider Jonathan Skelly sold 12,000 shares of the company’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 sale, the insider now directly owns 190,134 shares of the company’s stock, valued at $8,883,060.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $48.30, for a total transaction of $627,900.00. Following the transaction, the chief executive officer now owns 1,083,444 shares in the company, valued at approximately $52,330,345.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,000 shares of company stock worth $1,786,150. Insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

AZEK has been the topic of several research reports. Barclays lifted their price target on AZEK from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Benchmark started coverage on shares of AZEK in a research report on Friday, April 19th. They set a “buy” rating and a $55.00 price target for the company. Truist Financial restated a “buy” rating and issued a $57.00 price objective on shares of AZEK in a report on Tuesday, June 18th. Citigroup lifted their target price on shares of AZEK from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Robert W. Baird cut their price target on AZEK from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, AZEK has an average rating of “Moderate Buy” and an average price target of $45.33.

AZEK Stock Down 1.9 %

Shares of AZEK stock opened at $41.31 on Tuesday. The company has a quick ratio of 2.21, a current ratio of 3.40 and a debt-to-equity ratio of 0.42. The AZEK Company Inc. has a twelve month low of $25.03 and a twelve month high of $50.78. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 40.50, a price-to-earnings-growth ratio of 1.33 and a beta of 1.91. The company’s 50 day moving average is $45.79 and its 200 day moving average is $44.37.

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.