Barclays PLC Raises Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Barclays PLC grew its stake in The AZEK Company Inc. (NYSE:AZEK) by 96.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 191,588 shares of the company’s stock after purchasing an additional 93,819 shares during the quarter. Barclays PLC’s holdings in AZEK were worth $8,966,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Wealth Partners LLC purchased a new stake in AZEK in the third quarter worth about $31,000. Farther Finance Advisors LLC lifted its stake in shares of AZEK by 183.1% in the 3rd 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. Paladin Wealth LLC bought a new stake in shares of AZEK during the third quarter valued at approximately $39,000. Blue Trust Inc. grew its stake in AZEK by 106.4% in the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after purchasing an additional 480 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in AZEK in the third quarter worth $59,000. 97.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CMO Samara Toole sold 1,709 shares of the firm’s 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 transaction, the chief marketing officer now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jesse G. Singh sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $53.32, for a total transaction of $1,066,400.00. Following the sale, the chief executive officer now directly owns 923,765 shares of the company’s stock, valued at approximately $49,255,149.80. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.

AZEK Stock Down 0.8 %

AZEK opened at $52.74 on Wednesday. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 2.40 and a beta of 1.92. The firm has a 50 day moving average price of $48.03 and a 200-day moving average price of $45.07. The AZEK Company Inc. has a twelve month low of $35.38 and a twelve month high of $54.91. The company has a quick ratio of 1.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.32.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AZEK shares. Loop Capital downgraded shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a research report on Friday, October 4th. Robert W. Baird raised their target price on shares of AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Truist Financial boosted their price target on AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Benchmark reaffirmed a “buy” rating and set a $55.00 price objective on shares of AZEK in a research report on Thursday, November 21st. Finally, BMO Capital Markets boosted their target price on AZEK from $49.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.67.

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.