Raymond James Financial Inc. Invests $19.44 Million in The AZEK Company Inc. (NYSE:AZEK)

Raymond James Financial Inc. acquired a new position in shares of The AZEK Company Inc. (NYSE:AZEK) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 409,440 shares of the company’s stock, valued at approximately $19,436,000. Raymond James Financial Inc. owned approximately 0.29% of AZEK as of its most recent SEC filing.

Several other large investors have also modified their holdings of AZEK. Wellington Management Group LLP boosted its stake in shares of AZEK by 33.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after acquiring an additional 3,595,863 shares in the last quarter. FMR LLC lifted its holdings in shares of AZEK by 57.9% in the third quarter. FMR LLC now owns 6,811,591 shares of the company’s stock valued at $318,782,000 after purchasing an additional 2,497,074 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of AZEK by 73.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,006,253 shares of the company’s stock valued at $47,093,000 after purchasing an additional 425,609 shares in the last quarter. Gradient Investments LLC lifted its holdings in shares of AZEK by 834.9% in the fourth quarter. Gradient Investments LLC now owns 410,233 shares of the company’s stock valued at $19,474,000 after purchasing an additional 366,352 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of AZEK by 38.7% in the third quarter. The Manufacturers Life Insurance Company now owns 719,568 shares of the company’s stock valued at $33,676,000 after purchasing an additional 200,746 shares in the last quarter. 97.44% of the stock is owned by institutional investors.

Insider Buying and Selling at AZEK

In other news, CMO Samara Toole sold 1,709 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total value of $90,577.00. Following the sale, the chief marketing officer now directly owns 16,632 shares of the company’s stock, valued at approximately $881,496. This trade represents a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jesse G. Singh sold 20,387 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $50.08, for a total value of $1,020,980.96. Following the completion of the sale, the chief executive officer now directly owns 883,765 shares in the company, valued at approximately $44,258,951.20. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,709 shares of company stock worth $2,609,201 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

AZEK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Barclays increased their target price on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. DA Davidson increased their target price on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. BMO Capital Markets increased their target price on AZEK from $52.00 to $54.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada increased their price objective on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, AZEK has an average rating of “Moderate Buy” and an average target price of $54.85.

AZEK Price Performance

NYSE AZEK opened at $41.21 on Monday. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The stock’s 50-day moving average is $47.82 and its two-hundred day moving average is $47.20. 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 firm has a market cap of $5.92 billion, a P/E ratio of 41.62, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK) last posted its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. On average, analysts anticipate 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.