Redmond Asset Management LLC Has $2.47 Million Position in The AZEK Company Inc. (NYSE:AZEK)

Redmond Asset Management LLC reduced its holdings in The AZEK Company Inc. (NYSE:AZEK) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,958 shares of the company’s stock after selling 563 shares during the period. Redmond Asset Management LLC’s holdings in AZEK were worth $2,466,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Equitable Trust Co. increased its stake in shares of AZEK by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 10,346 shares of the company’s stock worth $484,000 after purchasing an additional 226 shares during the last quarter. GAMMA Investing LLC grew its stake in AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after buying an additional 239 shares during the last quarter. Truist Financial Corp grew its holdings in AZEK by 1.6% in the 4th quarter. Truist Financial Corp now owns 16,706 shares of the company’s stock valued at $793,000 after buying an additional 255 shares in the last quarter. Creative Planning grew its stake in shares of AZEK by 6.6% in the third quarter. Creative Planning now owns 6,987 shares of the company’s stock valued at $327,000 after acquiring an additional 430 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of AZEK by 18.8% during the 3rd quarter. Covestor Ltd now owns 2,758 shares of the company’s stock worth $129,000 after purchasing an additional 436 shares in the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on AZEK. Barclays increased their target price on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. DA Davidson boosted their target price on AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Robert W. Baird lifted their price target on shares of AZEK from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Benchmark reaffirmed a “buy” rating and issued a $55.00 target price on shares of AZEK in a report on Thursday, November 21st. Finally, The Goldman Sachs Group raised their price objective on shares of AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.85.

AZEK Trading Down 4.2 %

Shares of AZEK stock opened at $46.16 on Friday. The stock has a 50 day simple moving average of $49.36 and a two-hundred day simple moving average of $46.80. The company has a market cap of $6.63 billion, a P/E ratio of 46.63, a PEG ratio of 2.05 and a beta of 1.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91.

AZEK (NYSE:AZEK) last posted its quarterly 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 net margin of 9.85% and a return on equity of 13.47%. Research analysts forecast that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

Insider Activity

In related news, CMO Samara Toole sold 1,709 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total transaction of $90,577.00. Following the completion of the sale, the chief marketing officer now owns 16,632 shares in the company, valued at approximately $881,496. This represents a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jesse G. Singh sold 20,387 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the completion of the sale, the chief executive officer now owns 883,765 shares of the company’s stock, valued at approximately $44,258,951.20. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,709 shares of company stock worth $3,060,151 over the last quarter. 3.20% of the stock is currently owned by corporate insiders.

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.