Barclays PLC Buys 101,696 Shares of The AZEK Company Inc. (NYSE:AZEK)

Barclays PLC lifted its position in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 53.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,284 shares of the company's stock after acquiring an additional 101,696 shares during the quarter. Barclays PLC owned approximately 0.21% of AZEK worth $13,921,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AZEK. Vanguard Group Inc. lifted its holdings in shares of AZEK by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company's stock worth $685,032,000 after purchasing an additional 54,725 shares during the period. FMR LLC increased its stake in shares of AZEK by 80.7% in the fourth quarter. FMR LLC now owns 12,311,577 shares of the company's stock valued at $584,431,000 after buying an additional 5,499,986 shares during the period. Alliancebernstein L.P. raised its position in shares of 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 last quarter. Norges Bank acquired a new position in shares of AZEK in the fourth quarter worth approximately $94,987,000. Finally, JPMorgan Chase & Co. boosted its holdings in AZEK by 4.7% in the third quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company's stock valued at $93,564,000 after acquiring an additional 90,206 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 15,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $41.03, for a total value of $615,450.00. Following the transaction, the chief executive officer now owns 868,765 shares of the company's stock, valued at $35,645,427.95. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AZEK. William Blair restated a "market perform" rating on shares of AZEK in a research report on Monday, March 24th. Barclays dropped their price objective on shares of AZEK from $64.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Stephens downgraded shares of AZEK from an "overweight" rating to a "mixed" rating in a research report on Monday, March 24th. Loop Capital decreased their price objective on AZEK from $55.00 to $49.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Finally, BMO Capital Markets increased their target price on shares of AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a report on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $53.53.

AZEK Price Performance

Shares of AZEK stock traded up $1.07 on Thursday, reaching $49.47. The company's stock had a trading volume of 1,919,019 shares, compared to its average volume of 2,198,073. The company has a market capitalization of $7.11 billion, a P/E ratio of 49.97, a PEG ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a 12-month low of $35.48 and a 12-month high of $54.91. The stock's 50 day simple moving average is $45.88 and its 200-day simple moving average is $47.58. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31.

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