Creative Planning Increases Stake in The AZEK Company Inc. (NYSE:AZEK)

Creative Planning raised its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 44.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,557 shares of the company’s stock after buying an additional 2,017 shares during the quarter. Creative Planning’s holdings in AZEK were worth $276,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of AZEK by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 13,069,026 shares of the company’s stock valued at $499,890,000 after purchasing an additional 56,612 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of AZEK by 10.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 25,456 shares of the company’s stock worth $974,000 after acquiring an additional 2,432 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of AZEK during the 4th quarter worth $406,000. HighPoint Advisor Group LLC acquired a new position in shares of AZEK during the 4th quarter valued at about $273,000. Finally, Park Avenue Securities LLC acquired a new stake in AZEK during the first quarter worth about $227,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.

AZEK Stock Performance

Shares of AZEK stock opened at $44.13 on Friday. The firm has a 50 day moving average of $43.47 and a two-hundred day moving average of $44.53. The stock has a market capitalization of $6.42 billion, a PE ratio of 43.26, a P/E/G ratio of 1.10 and a beta of 1.88. The company has a quick ratio of 2.11, a current ratio of 3.07 and a debt-to-equity ratio of 0.41. The AZEK Company Inc. has a 52 week low of $25.03 and a 52 week high of $50.78.

AZEK (NYSE:AZEK) last released its earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. AZEK had a return on equity of 13.38% and a net margin of 11.35%. The firm had revenue of $434.40 million during the quarter, compared to analyst estimates of $396.89 million. During the same period last year, the business posted $0.29 earnings per share. AZEK’s revenue was up 12.1% compared to the same quarter last year. On average, research analysts predict that The AZEK Company Inc. will post 1.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on AZEK shares. Royal Bank of Canada decreased their target price on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Citigroup cut their target price on AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Stifel Nicolaus decreased their price target on AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their price objective on AZEK from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Finally, Truist Financial decreased their target price on shares of AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.94.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $41.47, for a total value of $829,400.00. Following the sale, the chief executive officer now directly owns 186,705 shares of the company’s stock, valued at approximately $7,742,656.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Pamela J. Edwards purchased 600 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $41.70 per share, for a total transaction of $25,020.00. Following the completion of the purchase, the director now directly owns 8,708 shares of the company’s stock, valued at approximately $363,123.60. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $41.47, for a total transaction of $829,400.00. Following the sale, the chief executive officer now directly owns 186,705 shares in the company, valued at approximately $7,742,656.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

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.