JPMorgan Chase & Co. Has $82.59 Million Stock Position in The AZEK Company Inc. (NYSE:AZEK)

JPMorgan Chase & Co. cut its holdings in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 13.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,739,784 shares of the company's stock after selling 259,448 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.22% of AZEK worth $82,588,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. State Street Corp raised its position in shares of AZEK by 1.9% in the third quarter. State Street Corp now owns 2,451,483 shares of the company's stock valued at $114,729,000 after buying an additional 45,774 shares during the last quarter. Stifel Financial Corp raised its holdings in AZEK by 24.7% in the 3rd quarter. Stifel Financial Corp now owns 22,481 shares of the company's stock valued at $1,052,000 after acquiring an additional 4,454 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of AZEK by 94.2% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the company's stock worth $85,000 after purchasing an additional 877 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of AZEK by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,169,551 shares of the company's stock worth $55,519,000 after purchasing an additional 24,249 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of AZEK in the fourth quarter valued at $717,000. 97.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AZEK has been the topic of a number of research analyst reports. BMO Capital Markets raised their price target on AZEK from $54.00 to $57.00 and gave the stock a "market perform" rating in a research note on Monday, March 24th. Raymond James set a $51.50 target price on shares of AZEK in a research report on Tuesday, March 25th. Baird R W lowered shares of AZEK from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Citigroup reiterated a "neutral" rating and issued a $51.50 price target (down previously from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Finally, Barclays dropped their price objective on AZEK from $64.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $53.40.

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AZEK Stock Performance

AZEK stock traded down $1.31 during trading on Tuesday, reaching $43.39. 8,764,381 shares of the company's stock were exchanged, compared to its average volume of 2,068,926. The AZEK Company Inc. has a 1-year low of $35.48 and a 1-year high of $54.91. The firm has a market cap of $6.23 billion, a PE ratio of 43.83, a P/E/G ratio of 1.91 and a beta of 1.86. The company's fifty day moving average price is $46.71 and its 200-day moving average price is $47.53. 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 announced its earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. On average, research analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 15,000 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $41.03, for a total transaction of $615,450.00. Following the transaction, the chief executive officer now directly owns 868,765 shares of the company's stock, valued at approximately $35,645,427.95. The trade was a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 55,000 shares of company stock worth $2,518,624 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

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.