Legato Capital Management LLC Purchases New Stake in The AZEK Company Inc. (NYSE:AZEK)

Legato Capital Management LLC purchased a new position in The AZEK Company Inc. (NYSE:AZEK - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,650 shares of the company's stock, valued at approximately $695,000.

Other hedge funds have also recently made changes to their positions in the company. Empowered Funds LLC purchased a new position in shares of AZEK in the fourth quarter worth approximately $27,000. Farther Finance Advisors LLC boosted its stake in shares of AZEK by 183.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 753 shares of the company's stock worth $35,000 after acquiring an additional 487 shares during the last quarter. GAMMA Investing LLC grew its position in shares of AZEK by 39.1% during the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company's stock valued at $40,000 after acquiring an additional 239 shares during the period. Blue Trust Inc. increased its stake in shares of AZEK by 106.4% in the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company's stock worth $44,000 after purchasing an additional 480 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in AZEK in the 3rd quarter worth $59,000. 97.44% of the stock is owned by hedge funds and other institutional investors.

AZEK Stock Performance

AZEK stock traded up $0.18 during trading hours on Monday, reaching $50.16. 1,198,081 shares of the stock were exchanged, compared to its average volume of 1,587,898. The AZEK Company Inc. has a 52-week low of $35.48 and a 52-week high of $54.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 2.56. The firm's 50 day moving average is $49.77 and its 200 day moving average is $46.67. The stock has a market cap of $7.17 billion, a P/E ratio of 50.66, a P/E/G ratio of 2.19 and a beta of 1.94.

AZEK (NYSE:AZEK - Get Free Report) last announced its quarterly 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%. Analysts predict that The AZEK Company Inc. will post 1.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Samara Toole sold 1,709 shares of the business's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $53.00, for a total transaction of $90,577.00. Following the transaction, the chief marketing officer now directly owns 16,632 shares of the company's stock, valued at approximately $881,496. The trade was a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jesse G. Singh sold 20,387 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the completion of the transaction, the chief executive officer now directly owns 883,765 shares of the company's stock, valued at approximately $44,258,951.20. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,709 shares of company stock valued at $3,060,151 over the last quarter. Company insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on AZEK shares. The Goldman Sachs Group upped their target price on shares of AZEK from $52.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Truist Financial upped their price objective on AZEK from $52.00 to $57.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lifted their target price on AZEK from $48.00 to $58.00 and gave the company an "overweight" rating in a research note on Monday, November 25th. BMO Capital Markets upped their price target on AZEK from $52.00 to $54.00 and gave the stock a "market perform" rating in a research note on Thursday, February 6th. Finally, Benchmark reiterated a "buy" rating and set a $55.00 price objective on shares of AZEK in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $54.85.

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.