Alliancebernstein L.P. increased its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 15.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,294,619 shares of the company's stock after purchasing an additional 429,574 shares during the period. Alliancebernstein L.P. owned 2.30% of AZEK worth $156,396,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in shares of AZEK by 39.1% in the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company's stock worth $40,000 after purchasing an additional 239 shares during the last quarter. Truist Financial Corp raised its position in shares of AZEK by 1.6% during the 4th quarter. Truist Financial Corp now owns 16,706 shares of the company's stock valued at $793,000 after buying an additional 255 shares in the last quarter. Investment House LLC lifted its holdings in shares of AZEK by 0.7% during the 4th quarter. Investment House LLC now owns 39,255 shares of the company's stock worth $1,863,000 after acquiring an additional 290 shares during the last quarter. Smartleaf Asset Management LLC grew its position in AZEK by 13.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company's stock worth $146,000 after acquiring an additional 352 shares in the last quarter. Finally, Norden Group LLC increased its stake in AZEK by 2.4% in the fourth quarter. Norden Group LLC now owns 21,204 shares of the company's stock valued at $1,007,000 after acquiring an additional 496 shares during the last quarter. Institutional investors own 97.44% of the company's stock.
Insiders Place Their Bets
In related news, CEO Jesse G. Singh sold 20,387 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $50.08, for a total value of $1,020,980.96. Following the completion of the transaction, the chief executive officer now directly owns 883,765 shares in the company, valued at $44,258,951.20. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 55,000 shares of company stock worth $2,518,624. Company insiders own 3.20% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on AZEK. Barclays raised their price objective on AZEK from $58.00 to $64.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. William Blair reaffirmed a "market perform" rating on shares of AZEK in a report on Monday, March 24th. Royal Bank of Canada boosted their price target on shares of AZEK from $50.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Wolfe Research reaffirmed a "peer perform" rating on shares of AZEK in a research note on Wednesday, March 26th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $53.00 target price (down previously from $58.00) on shares of AZEK 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. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $54.32.
Read Our Latest Analysis on AZEK
AZEK Trading Down 4.0 %
NYSE:AZEK traded down $1.95 during trading hours on Friday, hitting $46.25. The company had a trading volume of 5,512,872 shares, compared to its average volume of 2,017,435. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The stock has a 50-day moving average price of $47.18 and a 200 day moving average price of $47.58. The company has a market capitalization of $6.65 billion, a PE ratio of 46.72, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a 52 week low of $35.48 and a 52 week high of $54.91.
AZEK (NYSE:AZEK - Get Free Report) 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%. On average, equities research analysts predict that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.
About AZEK
(
Free Report)
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.
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