Pier Capital LLC Reduces Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

Pier Capital LLC lessened its position in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 34.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 113,870 shares of the company's stock after selling 60,881 shares during the period. Pier Capital LLC owned approximately 0.08% of AZEK worth $5,329,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Tidal Investments LLC increased its holdings in shares of AZEK by 3.7% in the 1st quarter. Tidal Investments LLC now owns 7,060 shares of the company's stock valued at $355,000 after purchasing an additional 251 shares in the last quarter. CWM LLC lifted its position in shares of AZEK by 24.4% during the 2nd quarter. CWM LLC now owns 5,099 shares of the company's stock valued at $215,000 after acquiring an additional 1,001 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of AZEK by 14.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,436 shares of the company's stock worth $440,000 after acquiring an additional 1,308 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of AZEK by 136.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 635,244 shares of the company's stock worth $26,763,000 after acquiring an additional 366,025 shares during the period. Finally, Raymond James & Associates increased its stake in AZEK by 290.8% in the 2nd quarter. Raymond James & Associates now owns 121,623 shares of the company's stock valued at $5,124,000 after purchasing an additional 90,499 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company's stock.

Wall Street Analyst Weigh In

AZEK has been the topic of several research reports. BMO Capital Markets upped their target price on AZEK from $49.00 to $51.00 and gave the company a "market perform" rating in a report on Wednesday, November 20th. Robert W. Baird increased their price objective on shares of AZEK from $52.00 to $54.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. 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 research report on Monday, November 25th. Truist Financial increased their price target on shares of AZEK from $52.00 to $57.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th. Finally, DA Davidson lifted their price objective on AZEK from $44.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $49.82.

AZEK Trading Up 1.4 %

NYSE:AZEK traded up $0.73 on Friday, hitting $54.21. 1,437,343 shares of the stock were exchanged, compared to its average volume of 1,456,239. The stock has a fifty day moving average of $46.85 and a 200-day moving average of $44.77. The stock has a market cap of $7.75 billion, a PE ratio of 52.13, a PEG ratio of 2.36 and a beta of 1.92. 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 AZEK Company Inc. has a fifty-two week low of $34.02 and a fifty-two week high of $54.69.

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.