Envestnet Portfolio Solutions Inc. Has $1.62 Million Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 12.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,019 shares of the company’s stock after selling 4,746 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in AZEK were worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of AZEK. Wellington Management Group LLP increased its holdings in shares of AZEK by 33.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after purchasing an additional 3,595,863 shares during the period. FMR LLC increased its stake in AZEK by 57.9% in the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company’s stock valued at $318,782,000 after buying an additional 2,497,074 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in AZEK by 73.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,006,253 shares of the company’s stock worth $47,093,000 after buying an additional 425,609 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of AZEK during the 4th quarter valued at $19,436,000. Finally, Gradient Investments LLC grew its holdings in shares of AZEK by 834.9% during the 4th quarter. Gradient Investments LLC now owns 410,233 shares of the company’s stock valued at $19,474,000 after acquiring an additional 366,352 shares in the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AZEK has been the subject of several recent research reports. Robert W. Baird increased their price objective on AZEK from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Royal Bank of Canada raised their price target on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. BMO Capital Markets boosted their price target on AZEK from $52.00 to $54.00 and gave the company a “market perform” rating in a research note on Thursday, February 6th. Barclays raised their price objective on shares of AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Citigroup upgraded shares of AZEK from a “neutral” rating to a “buy” rating and lifted their target price for the company from $51.00 to $60.00 in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, AZEK presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.85.

AZEK Stock Down 0.8 %

AZEK stock opened at $41.39 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The firm has a fifty day moving average price of $47.32 and a two-hundred day moving average price of $47.10. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 41.80, a P/E/G ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK) last announced its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts forecast that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 15,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 868,765 shares of the company’s stock, valued at $35,645,427.95. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 55,000 shares of company stock worth $2,518,624. Company insiders own 3.20% of the company’s stock.

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.