August 30, 2023 – The Swiss National Bank has recently announced a reduction in its holdings of The AZEK Company Inc. (NYSE:AZEK). According to their most recent Form 13F filing with the Securities and Exchange Commission (SEC), the bank decreased its stake in AZEK by 11.4% during the first quarter. This move saw the Swiss National Bank sell 31,400 shares, leaving them with a total of 244,550 shares in the company’s stock at the end of the reporting period. Despite the reduction, the Swiss National Bank still retains ownership of 0.16% of AZEK, valued at $5,757,000.
In related news, it has been reported that insider Jonathan Skelly sold 10,000 shares of AZEK’s stock on June 7th for an average price of $26.94 per share. This transaction amounted to a total value of $269,400. Following this sale, Skelly now holds approximately 206,569 shares in the company worth $5,564,968.86. The details of this sale were disclosed through a document filed with the SEC and can be accessed via this link.
Additionally, another insider named Scott Vanwinter sold 45,000 shares of AZEK’s stock on June 2nd for an average price of $24.88 per share. This transaction had a total value of $1,119,600. Following the completion of this sale, Vanwinter now holds approximately 304,892 shares in the company valued at $7,585,712.96. Similarly to Skelly’s sale mentioned earlier, this transaction was also disclosed through a filing with the SEC available on their website.
It is worth noting that there was another instance where Jonathan Skelly sold an additional 10,000 shares on June 7th for an average price of $26.94 per share. This sale resulted in Skelly directly owning 206,569 shares in AZEK, with an approximate value of $5,564,968.86. The relevant details of this transaction can be found in the disclosure provided here.
The recent activities of insiders indicate that there has been considerable selling activity within AZEK. Over the course of the last quarter, insiders have sold 4,976,250 shares of company stock, amounting to a total value of $128,139,525. Based on this information, insiders collectively own approximately 3.10% of AZEK’s stock.
These developments provide insight into the recent actions and ownership changes within The AZEK Company Inc. Investors and market participants may find this information valuable when considering their positions in relation to the company’s stock. As always, it is recommended that individuals conduct thorough research and consult with professional advisors before making any investment decisions.
The AZEK Company Inc.
AZEK
Buy
Updated on: 02/12/2023
Financial Health
Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Prominent Investors Show Confidence in The AZEK Company Inc. as Stocks Soar
In recent months, several prominent investors have been making notable moves with regards to their stakes in The AZEK Company Inc. (NYSE:AZEK). Morgan Stanley, for instance, has significantly raised its position in the company by 272.4% during the fourth quarter. As a result, Morgan Stanley now owns an impressive 3,973,475 shares of AZEK stock, valued at approximately $80,741,000. This increase in ownership was achieved through the purchase of an additional 2,906,460 shares during the specified period.
Another major player that has seen substantial growth in its AZEK holdings is JPMorgan Chase & Co., which increased its position by a whopping 848.4% in the fourth quarter. With this move, JPMorgan now boasts ownership of 2,104,153 shares valued at around $42,756,000 after acquiring an additional 1,882,284 shares.
Allspring Global Investments Holdings LLC has also shown confidence in AZEK by raising its stake by 74.0% during the first quarter. The firm currently holds 2,613,879 shares of AZEK stock worth $61,531,000 after purchasing an additional 1,1119⏞899 shares.
Dimensional Fund Advisors LP joined the trend as well and increased its position by 53.9% during the fourth quarter. They now own approximately 3⏞017338 shares valued at $61⏞316000.
Impax Asset Management Group plc raised its stake by a more modest but still significant 19.2% during the fourth quarter. The group’s holdings in AZEK now stand at roughly 5⏞694260 shares worth $20115126⏟eon judging from their acquisition of an additional ⏜3569867 bearsdvsmaetnsstduputoedurpughtugfafartherhad purchases an additional 917,967 shares.
With so many major investors making significant moves in the company, it is evident that AZEK’s potential and prospects have caught the attention of these industry players. The overall sentiment towards AZEK also seems positive, as analysts have been issuing favorable reports on the company. In a research report released on Monday, July 17th, Loop Capital boosted their target price on AZEK from $33.00 to $39.00. Similarly, The Goldman Sachs Group increased their target price from $33.00 to $37.00 and provided a “buy” rating for the stock on Wednesday, August 9th.
Truist Financial has raised its price target from $30.00 to $40.00, while Stephens has increased its target from $32.00 to $40.00 and given the stock an “overweight” rating in reports released on Wednesday, August 9th.
Jefferies Financial Group also expressed optimism by increasing their price objective from $31.00 to $37.00 and assigning a “buy” rating to AZEK’s stock in a report issued on Thursday, July 13th.
With a consensus rating of “Moderate Buy” and a consensus price target of $35.78 according to data gathered by Bloomberg, AZEK seems poised for further growth and success.
As of August 30, 2023, AZEK’s stock opened at an impressive value of $33.34 per share—a clear reflection of market confidence in the company. Furthermore, it is noteworthy that this figure aligns with the business’s 50-day moving average price of $30.88 as well as its 200-day moving average price of $26.86.
Taking into account the financial position of AZEK Company Inc., we can see that it currently holds a market capitalization worth approximately $4⏜98 billion and possesses a price-to-earnings ratio of 238.14. The company’s PEG ratio stands at 6.78 and its beta is calculated at 1.73, suggesting that it exhibits a higher degree of volatility compared to the overall market.
AZEK’s impressive fifty-two week trading range consists of a low point of $15.12 and a high point of $34⏞87, highlighting the substantial growth it has undergone in recent months.
The company’s financial performance has also been promising, with AZEK reporting earnings per share (EPS) of $0.29 for the most recent quarter—a figure that exceeded analysts’ consensus estimates by $0.06.
In addition to this positive EPS surprise, AZEK achieved a return on equity (ROE) rate of 5.53% and demonstrated a net margin of 1⏜60%. Notably, the firm generated revenue amounting to $387⏜55 million during the same quarter—an impressive result that surpassed analysts’ expectations of $372⏜75 million.
Taking all these factors into consideration, equities research analysts are forecasting that The AZEK Company Inc.’s current fiscal year will yield an earnings per share figure of around 0⏞55—a promising
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