Jacobs Levy Equity Management Inc. Has $47.09 Million Stake in The AZEK Company Inc. (NYSE:AZEK)

Jacobs Levy Equity Management Inc. lifted its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 73.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,006,253 shares of the company's stock after acquiring an additional 425,609 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.70% of AZEK worth $47,093,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FMR LLC boosted its holdings 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 buying an additional 2,497,074 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of AZEK during the 2nd quarter valued at $86,719,000. Interval Partners LP raised its holdings in shares of AZEK by 162.4% during 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 in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of AZEK by 136.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 635,244 shares of the company's stock valued at $26,763,000 after purchasing an additional 366,025 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of AZEK by 106.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 646,849 shares of the company's stock valued at $27,252,000 after purchasing an additional 333,984 shares in the last quarter. Institutional investors and hedge funds own 97.44% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of AZEK from $46.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Benchmark restated a "buy" rating and issued a $55.00 price target on shares of AZEK in a research report on Thursday, November 21st. Loop Capital lowered shares of AZEK from a "buy" rating to a "hold" rating and set a $47.00 target price on the stock. in a research report on Friday, October 4th. Barclays lifted their target price on shares of AZEK from $53.00 to $58.00 and gave the company an "overweight" rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of AZEK from $48.00 to $58.00 and gave the company an "overweight" rating in a research report on Monday, November 25th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $49.82.

AZEK Stock Performance

NYSE:AZEK traded up $0.07 during mid-day trading on Wednesday, reaching $53.80. 398,527 shares of the company's stock were exchanged, compared to its average volume of 1,693,403. The AZEK Company Inc. has a one year low of $34.02 and a one year high of $54.16. The firm has a market capitalization of $7.69 billion, a PE ratio of 51.11, a price-to-earnings-growth ratio of 2.33 and a beta of 1.92. The business's fifty day simple moving average is $46.39 and its two-hundred day simple moving average is $44.60. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 2.17.

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.