Edgestream Partners L.P. Makes New Investment in The AZEK Company Inc. (NYSE:AZEK)

Edgestream Partners L.P. purchased a new position in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 121,399 shares of the company's stock, valued at approximately $5,681,000. Edgestream Partners L.P. owned approximately 0.08% of AZEK at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AZEK. FMR LLC raised its position in AZEK by 57.9% during the third quarter. FMR LLC now owns 6,811,591 shares of the company's stock worth $318,782,000 after acquiring an additional 2,497,074 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of AZEK in the 2nd quarter valued at about $86,719,000. Interval Partners LP lifted its stake in AZEK by 162.4% in the 2nd quarter. Interval Partners LP now owns 742,749 shares of the company's stock valued at $31,292,000 after purchasing an additional 459,664 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in AZEK by 136.0% during the second quarter. Assenagon Asset Management S.A. now owns 635,244 shares of the company's stock worth $26,763,000 after purchasing an additional 366,025 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its position in AZEK by 106.8% during the second quarter. D. E. Shaw & Co. Inc. now owns 646,849 shares of the company's stock worth $27,252,000 after buying an additional 333,984 shares during the last quarter. 97.44% of the stock is currently owned by institutional investors and hedge funds.

AZEK Price Performance

NYSE:AZEK traded up $0.86 during mid-day trading on Friday, reaching $53.12. The stock had a trading volume of 867,478 shares, compared to its average volume of 1,486,057. The AZEK Company Inc. has a 12 month low of $33.14 and a 12 month high of $54.16. The stock has a market capitalization of $7.60 billion, a PE ratio of 51.08, a P/E/G ratio of 2.34 and a beta of 1.88. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.14. The stock has a 50-day simple moving average of $46.12 and a two-hundred day simple moving average of $44.54.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AZEK. Benchmark reaffirmed a "buy" rating and issued a $55.00 price objective on shares of AZEK in a research report on Thursday, November 21st. Barclays increased their price target on shares of AZEK from $53.00 to $58.00 and gave the company an "overweight" rating in a report on Thursday, November 21st. UBS Group reduced their price objective on AZEK from $47.00 to $43.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Truist Financial upped their target price on AZEK from $52.00 to $57.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada boosted their price target on AZEK from $46.00 to $50.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $49.82.

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.