Fmr LLC Increases Position in The AZEK Company Inc. (NYSE:AZEK)

FMR LLC grew its holdings in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 57.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,811,591 shares of the company's stock after purchasing an additional 2,497,074 shares during the period. FMR LLC owned approximately 4.71% of AZEK worth $318,782,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in AZEK by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company's stock valued at $99,175,000 after buying an additional 118,351 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of AZEK during the second quarter valued at $86,719,000. Point72 Asset Management L.P. raised its position in shares of AZEK by 14.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,377,883 shares of the company's stock worth $58,050,000 after purchasing an additional 175,841 shares during the last quarter. Millennium Management LLC boosted its stake in AZEK by 25.7% in the 2nd quarter. Millennium Management LLC now owns 1,298,920 shares of the company's stock worth $54,724,000 after purchasing an additional 265,827 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in AZEK by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,145,302 shares of the company's stock valued at $53,600,000 after purchasing an additional 28,080 shares during the last quarter. 97.44% of the stock is owned by institutional investors.

AZEK Stock Performance

AZEK stock traded up $0.86 during midday trading on Friday, reaching $53.12. 867,478 shares of the company's stock traded hands, compared to its average volume of 1,486,057. The AZEK Company Inc. has a 52-week low of $33.14 and a 52-week high of $54.16. The stock's 50-day moving average is $46.12 and its 200 day moving average is $44.54. The company has a current ratio of 2.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market cap of $7.60 billion, a P/E ratio of 51.08, a PEG ratio of 2.34 and a beta of 1.88.

Analysts Set New Price Targets

Several research analysts have issued reports on AZEK shares. JPMorgan Chase & Co. lifted their target price on shares of AZEK from $48.00 to $58.00 and gave the stock an "overweight" rating in a report on Monday, November 25th. Royal Bank of Canada boosted their price objective on shares of AZEK from $46.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. 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 note on Thursday, August 8th. Benchmark reissued a "buy" rating and issued a $55.00 target price on shares of AZEK in a report on Thursday, November 21st. Finally, BMO Capital Markets upped their price target on AZEK from $49.00 to $51.00 and gave the company a "market perform" rating in a report on Wednesday, November 20th. 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.com, AZEK has an average rating of "Moderate Buy" and an average price target of $49.82.

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.