CIBC Asset Management Inc Purchases Shares of 4,495 The AZEK Company Inc. (NYSE:AZEK)

CIBC Asset Management Inc purchased a new stake in shares of The AZEK Company Inc. (NYSE:AZEK) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,495 shares of the company’s stock, valued at approximately $213,000.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC acquired a new position in shares of AZEK during the fourth quarter valued at about $27,000. Farther Finance Advisors LLC raised its holdings in shares of AZEK by 183.1% during the third quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock valued at $35,000 after purchasing an additional 487 shares during the period. GAMMA Investing LLC raised its holdings in shares of AZEK by 39.1% during the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after purchasing an additional 239 shares during the period. Blue Trust Inc. raised its holdings in shares of AZEK by 106.4% during the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after purchasing an additional 480 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of AZEK during the third quarter valued at about $59,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

Insider Buying and Selling

In other AZEK news, CMO Samara Toole sold 1,709 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were 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 in the company, valued at $881,496. This represents a 9.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jesse G. Singh sold 19,613 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $44.98, for a total transaction of $882,192.74. Following the completion of the sale, the chief executive officer now owns 904,152 shares in the company, valued at $40,668,756.96. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,709 shares of company stock valued at $3,060,151. Company insiders own 3.20% of the company’s stock.

AZEK Stock Down 0.4 %

AZEK stock opened at $46.59 on Thursday. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The firm has a 50 day moving average price of $49.06 and a 200-day moving average price of $47.01. The company has a market capitalization of $6.69 billion, a P/E ratio of 47.06, a P/E/G ratio of 1.91 and a beta of 1.94. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31.

AZEK (NYSE:AZEK) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate 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, equities analysts predict that The AZEK Company Inc. will post 1.34 EPS for the current year.

Analyst Upgrades and Downgrades

AZEK has been the topic of several research reports. DA Davidson upped their price objective on shares of AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. BMO Capital Markets upped their price objective on shares of AZEK from $52.00 to $54.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. Royal Bank of Canada upped their target price on shares of AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Barclays upped their target price on shares of AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Robert W. Baird upped their target price on shares of AZEK from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.85.

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.