Concentric Capital Strategies LP Purchases 34,555 Shares of The AZEK Company Inc. (NYSE:AZEK)

Concentric Capital Strategies LP raised its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 24.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 173,162 shares of the company's stock after buying an additional 34,555 shares during the period. Concentric Capital Strategies LP owned approximately 0.12% of AZEK worth $8,104,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AZEK. Vaughan Nelson Investment Management L.P. raised its position in AZEK by 15.9% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 734,446 shares of the company's stock worth $30,942,000 after acquiring an additional 100,719 shares during the last quarter. WCM Investment Management LLC raised its position in shares of AZEK by 2.2% during the 3rd quarter. WCM Investment Management LLC now owns 539,494 shares of the company's stock worth $25,232,000 after purchasing an additional 11,770 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in AZEK by 8.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 671,267 shares of the company's stock valued at $31,415,000 after buying an additional 50,230 shares in the last quarter. Hsbc Holdings PLC grew its holdings in AZEK by 203.7% during the 2nd quarter. Hsbc Holdings PLC now owns 142,142 shares of the company's stock valued at $5,960,000 after buying an additional 95,332 shares during the last quarter. Finally, Algert Global LLC increased its position in AZEK by 18.5% during the third quarter. Algert Global LLC now owns 119,453 shares of the company's stock worth $5,590,000 after buying an additional 18,690 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Benchmark reaffirmed a "buy" rating and set a $55.00 price objective on shares of AZEK in a research note on Thursday, November 21st. Royal Bank of Canada boosted their price objective on shares of AZEK from $46.00 to $50.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. Loop Capital lowered AZEK from a "buy" rating to a "hold" rating and set a $47.00 price objective on the stock. in a research report on Friday, October 4th. Robert W. Baird raised their price target on shares of AZEK from $52.00 to $54.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. Finally, Stifel Nicolaus cut their target price on AZEK from $52.00 to $50.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $49.82.

AZEK Stock Down 0.2 %

Shares of NYSE:AZEK traded down $0.13 on Monday, reaching $52.99. The company had a trading volume of 1,140,481 shares, compared to its average volume of 1,701,981. The stock has a market capitalization of $7.58 billion, a P/E ratio of 50.85, a P/E/G ratio of 2.34 and a beta of 1.88. The stock has a 50-day moving average price of $46.12 and a 200 day moving average price of $44.51. The AZEK Company Inc. has a twelve month low of $34.02 and a twelve month high of $54.16. The company has a quick ratio of 1.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.32.

AZEK Company 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.