Wealth Enhancement Advisory Services LLC Has $673,000 Stake in The AZEK Company Inc. (NYSE:AZEK)

Wealth Enhancement Advisory Services LLC lifted its stake in The AZEK Company Inc. (NYSE:AZEK) by 44.6% in the first quarter, Holdings Channel.com reports. The firm owned 13,769 shares of the company’s stock after acquiring an additional 4,246 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in AZEK were worth $673,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Fifth Third Bancorp grew its position in AZEK by 6.8% during the first quarter. Fifth Third Bancorp now owns 7,236 shares of the company’s stock valued at $354,000 after purchasing an additional 461 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of AZEK by 1,280.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,116,458 shares of the company’s stock valued at $54,584,000 after buying an additional 1,035,610 shares during the period. SG Americas Securities LLC grew its holdings in shares of AZEK by 321.6% during the 1st quarter. SG Americas Securities LLC now owns 68,145 shares of the company’s stock valued at $3,332,000 after acquiring an additional 51,983 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in shares of AZEK during the 1st quarter valued at $261,000. Finally, Farther Finance Advisors LLC increased its stake in shares of AZEK by 472.9% in the first quarter. Farther Finance Advisors LLC now owns 1,948 shares of the company’s stock worth $94,000 after acquiring an additional 1,608 shares during the last quarter. 97.44% of the stock is currently owned by institutional investors and hedge funds.

AZEK Price Performance

Shares of AZEK stock opened at $54.35 on Friday. The AZEK Company Inc. has a 12-month low of $35.48 and a 12-month high of $54.91. The company has a quick ratio of 1.47, a current ratio of 2.45 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average price of $51.43 and a two-hundred day moving average price of $48.86. The stock has a market capitalization of $7.82 billion, a P/E ratio of 53.28 and a beta of 1.82.

AZEK (NYSE:AZEK) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $452.23 million during the quarter, compared to analysts’ expectations of $444.75 million. AZEK had a net margin of 9.92% and a return on equity of 13.87%. AZEK’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. Equities analysts expect that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AZEK has been the subject of several recent research reports. BMO Capital Markets increased their price objective on AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, March 24th. Loop Capital dropped their target price on AZEK from $55.00 to $49.00 and set a “hold” rating on the stock in a research report on Thursday, April 17th. Barclays lifted their price target on AZEK from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Citigroup reissued a “neutral” rating and issued a $51.50 price target (down previously from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Finally, William Blair restated a “market perform” rating on shares of AZEK in a report on Monday, March 24th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AZEK has an average rating of “Hold” and an average target price of $53.93.

Insider Buying and Selling

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the completion of the transaction, the chief executive officer owned 852,765 shares of the company’s stock, valued at $43,832,121. The trade was a 2.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is owned by company insiders.

AZEK 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.