Cinctive Capital Management LP Invests $812,000 in The AZEK Company Inc. (NYSE:AZEK)

Cinctive Capital Management LP acquired a new stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 17,100 shares of the company's stock, valued at approximately $812,000.

Several other large investors also recently modified their holdings of AZEK. Wellington Management Group LLP grew its holdings in AZEK by 33.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company's stock valued at $665,702,000 after buying an additional 3,595,863 shares in the last quarter. Norges Bank bought a new stake in shares of AZEK in the fourth quarter valued at about $94,987,000. Arrowstreet Capital Limited Partnership grew its stake in shares of AZEK by 72.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company's stock valued at $92,903,000 after acquiring an additional 823,588 shares in the last quarter. Alliancebernstein L.P. increased its position in AZEK by 15.0% during the fourth quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company's stock worth $156,396,000 after acquiring an additional 429,574 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in AZEK in the 4th quarter worth about $19,436,000. 97.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 15,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $41.03, for a total value of $615,450.00. Following the completion of the sale, the chief executive officer now owns 868,765 shares of the company's stock, valued at approximately $35,645,427.95. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 55,000 shares of company stock valued at $2,518,624. 3.20% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. William Blair restated a "market perform" rating on shares of AZEK in a research report on Monday, March 24th. Royal Bank of Canada raised their price objective on AZEK from $50.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Citigroup reiterated a "neutral" rating and set a $51.50 target price (down from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Wolfe Research reissued a "peer perform" rating on shares of AZEK in a report on Wednesday, March 26th. Finally, BMO Capital Markets boosted their price target on AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a research note on Monday, March 24th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $53.40.

AZEK Trading Up 9.3 %

Shares of NYSE:AZEK traded up $4.04 during midday trading on Wednesday, hitting $47.43. 13,752,004 shares of the stock were exchanged, compared to its average volume of 2,119,359. The business's 50-day moving average price is $46.55 and its 200 day moving average price is $47.53. The AZEK Company Inc. has a 12 month low of $35.48 and a 12 month high of $54.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 47.91, a P/E/G ratio of 1.91 and a beta of 1.86.

AZEK (NYSE:AZEK - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Analysts predict that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

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.