CIBC Asset Management Inc Makes New $213,000 Investment in The AZEK Company Inc. (NYSE:AZEK)

CIBC Asset Management Inc acquired a new stake in shares of The AZEK Company Inc. (NYSE:AZEK) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 4,495 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in AZEK. Creative Planning raised its position in shares of AZEK by 6.6% during the 3rd quarter. Creative Planning now owns 6,987 shares of the company’s stock valued at $327,000 after buying an additional 430 shares in the last quarter. Blue Trust Inc. raised its position in shares of AZEK by 106.4% during the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after buying an additional 480 shares in the last quarter. Raymond James & Associates raised its position in shares of AZEK by 6.4% during the 3rd quarter. Raymond James & Associates now owns 129,371 shares of the company’s stock valued at $6,055,000 after buying an additional 7,748 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of AZEK during the 3rd quarter valued at $243,000. Finally, Diversify Wealth Management LLC raised its position in shares of AZEK by 14.6% during the 3rd quarter. Diversify Wealth Management LLC now owns 10,339 shares of the company’s stock valued at $484,000 after buying an additional 1,317 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

AZEK Price Performance

Shares of AZEK stock opened at $46.59 on Thursday. The company’s fifty day simple moving average is $49.06 and its two-hundred day simple moving average is $47.01. The firm has a market cap of $6.69 billion, a PE ratio of 47.06, a price-to-earnings-growth 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. The AZEK Company Inc. has a 12-month low of $35.48 and a 12-month high of $54.91.

AZEK (NYSE:AZEK) last announced its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 expect that The AZEK Company Inc. will post 1.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AZEK shares. DA Davidson raised their price objective on shares of AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of AZEK in a research report on Thursday, November 21st. BMO Capital Markets lifted their target price on shares of AZEK from $52.00 to $54.00 and gave the stock a “market perform” rating in a research report on Thursday, February 6th. Barclays lifted their target price on shares of AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.85.

Insider Activity

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

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.