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Highlights
- AZEK's stock witnessed significant interest from institutional investors.
- Financial performance indicators and market analysts' ratings show positive growth expectations.
- Insider trading activities reveal strategic repositioning among the company's top executives.
The AZEK Company Inc. (NYSE:AZEK) has attracted notable attention from institutional investors as Blue Trust Inc. significantly increased its holdings by 94.2% in the fourth quarter. With the addition of 877 shares, Blue Trust Inc.'s holding of 1,808 shares exemplified the growing interest in AZEK’s potential in the market. As of the latest SEC filing, these holdings were valued at $85,000, signaling a strategic move among institutional investors.
Institutional and Hedge Fund Engagement
Several other hedge funds and institutional investors have repositioned their stakes in the company, further highlighting a trend of increased confidence. ORG Wealth Partners LLC, for instance, initiated a new position during the third quarter, acquiring shares valued at $31,000. Similarly, Farther Finance Advisors LLC expanded its holdings by 183.1%, while GAMMA Investing LLC raised its stake by 39.1% in the fourth quarter. These movements underscore a robust institutional backing, with 97.44% of AZEK's stock now owned by such entities.
Stock Performance and Financial Indicators
As of recent trading, AZEK opened at $50.11, backed by a 50-day moving average of $50.23 and a 200-day average of $46.40. With a market capitalization of $7.17 billion and a P/E ratio of 48.18, the company stands as a strong entity in the market. Operating with a debt-to-equity ratio of 0.32 and current and quick ratios of 2.17 and 1.14 respectively, AZEK maintains a solid financial stance. Its quarterly earnings report showcased a notable EPS of $0.17, outperforming analyst expectations by $0.03.
Insider Trading Dynamics
Recent insider trading activities reveal key executive movements, suggesting strategic alignments within the company. CEO Jesse G. Singh disposed of 19,613 shares, translating into a transaction value of $882,192.74. Interestingly, this represented a slight 2.12% decrease in his total shareholding. Meanwhile, CMO Samara Toole divested 1,709 shares, generating a value of $90,577. Such transactions spotlight the dynamic adjustments executives are making in response to market conditions.
Market Analysts' Insights
Wall Street analysts have voiced positive expectations for AZEK, with Citigroup upgrading its rating from “neutral” to “buy” and raising its price target from $51.00 to $60.00. Robert W. Baird also offered an “outperform” rating with a revised objective of $58.00. Overall, four analysts have maintained a “hold” rating, while nine advocate for a “buy”, resulting in a consensus rating of “Moderate Buy.” This reflects an optimistic market outlook for AZEK's future performance.
About The AZEK Company Inc.
The AZEK Company Inc. is renowned for its robust portfolio of building products, catering primarily to residential, commercial, and industrial markets within the United States and Canada. The company's operations are categorized into two primary segments: Residential and Commercial. Under well-known brand names such as TimberTech, AZEK Exteriors, and VERSATEX, AZEK delivers quality solutions in decking, siding, accessories, and beyond.
