Paladin Wealth LLC Takes $39,000 Position in The AZEK Company Inc. (NYSE:AZEK)

Paladin Wealth LLC acquired a new stake in The AZEK Company Inc. (NYSE:AZEK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 838 shares of the company’s stock, valued at approximately $39,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tidal Investments LLC boosted its holdings in AZEK by 3.7% in the first quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock valued at $355,000 after acquiring an additional 251 shares during the last quarter. Signaturefd LLC boosted its holdings in AZEK by 32.7% in the second quarter. Signaturefd LLC now owns 2,157 shares of the company’s stock valued at $91,000 after acquiring an additional 532 shares during the last quarter. CWM LLC boosted its holdings in AZEK by 12.5% in the third quarter. CWM LLC now owns 5,735 shares of the company’s stock valued at $268,000 after acquiring an additional 636 shares during the last quarter. ORG Partners LLC bought a new stake in AZEK in the first quarter valued at approximately $35,000. Finally, Whittier Trust Co. bought a new stake in AZEK in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

AZEK Trading Up 2.4 %

Shares of AZEK opened at $45.56 on Tuesday. The business has a 50-day moving average of $43.06 and a 200 day moving average of $44.61. The AZEK Company Inc. has a fifty-two week low of $25.03 and a fifty-two week high of $50.78. The firm has a market cap of $6.63 billion, a P/E ratio of 44.67, a price-to-earnings-growth ratio of 1.10 and a beta of 1.88. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07.

AZEK (NYSE:AZEK) last issued its quarterly 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. The firm had revenue of $434.40 million during the quarter, compared to the consensus estimate of $396.89 million. AZEK had a return on equity of 13.38% and a net margin of 11.35%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $0.29 EPS. As a group, research analysts forecast that The AZEK Company Inc. will post 1.05 EPS for the current year.

AZEK announced that its board has authorized a stock buyback plan on Monday, June 17th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 9.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Pamela J. Edwards bought 600 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $41.70 per share, for a total transaction of $25,020.00. Following the transaction, the director now directly owns 8,708 shares of the company’s stock, valued at $363,123.60. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jesse G. Singh sold 20,000 shares of the business’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 transaction, the chief executive officer now directly owns 186,705 shares of the company’s stock, valued at approximately $7,742,656.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pamela J. Edwards bought 600 shares of AZEK stock in a transaction dated Thursday, August 15th. The shares were acquired 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 disclosure for this purchase can be found here. 3.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AZEK has been the topic of several analyst reports. Stifel Nicolaus reduced their target price on AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group cut their price target on AZEK from $56.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Loop Capital cut AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target on the stock. in a report on Friday, October 4th. Barclays cut their price target on AZEK from $58.00 to $52.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, DA Davidson lowered shares of AZEK from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $57.00 to $44.00 in a report on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.94.

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.