TimesSquare Capital Management LLC Buys 45,324 Shares of The AZEK Company Inc. (NYSE:AZEK)

TimesSquare Capital Management LLC raised its holdings in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 817,963 shares of the company's stock after acquiring an additional 45,324 shares during the quarter. TimesSquare Capital Management LLC owned about 0.57% of AZEK worth $38,829,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Equitable Trust Co. boosted its stake in AZEK by 2.2% in the third quarter. Equitable Trust Co. now owns 10,346 shares of the company's stock valued at $484,000 after acquiring an additional 226 shares during the last quarter. GAMMA Investing LLC boosted its stake in AZEK by 39.1% in the fourth 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 last quarter. Truist Financial Corp boosted its stake in AZEK by 1.6% in the fourth quarter. Truist Financial Corp now owns 16,706 shares of the company's stock valued at $793,000 after acquiring an additional 255 shares during the last quarter. Creative Planning boosted its stake in AZEK by 6.6% in the third quarter. Creative Planning now owns 6,987 shares of the company's stock valued at $327,000 after acquiring an additional 430 shares during the last quarter. Finally, Covestor Ltd boosted its stake in AZEK by 18.8% in the third quarter. Covestor Ltd now owns 2,758 shares of the company's stock valued at $129,000 after acquiring an additional 436 shares during the last quarter. 97.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AZEK shares. Royal Bank of Canada raised their price objective on shares of AZEK from $50.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Barclays increased their target price on shares of AZEK from $58.00 to $64.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. BMO Capital Markets increased their target price on shares of AZEK from $52.00 to $54.00 and gave the stock a "market perform" rating in a report on Thursday, February 6th. Citigroup upgraded shares of AZEK from a "neutral" rating to a "buy" rating and increased their target price for the stock from $51.00 to $60.00 in a report on Monday, January 6th. Finally, Robert W. Baird increased their target price on shares of AZEK from $54.00 to $58.00 and gave the stock an "outperform" rating in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $54.85.

AZEK Stock Down 4.2 %

AZEK stock traded down $2.02 during mid-day trading on Friday, reaching $46.16. The company's stock had a trading volume of 2,402,908 shares, compared to its average volume of 1,611,347. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 46.63, a price-to-earnings-growth ratio of 2.05 and a beta of 1.94. The AZEK Company Inc. has a 12 month low of $35.48 and a 12 month high of $54.91. The business's 50 day simple moving average is $49.36 and its 200 day simple moving average is $46.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56.

AZEK (NYSE:AZEK - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. As a group, research analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

Insider Activity

In related news, CMO Samara Toole sold 1,709 shares of AZEK stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $53.00, for a total transaction of $90,577.00. Following the completion of the sale, the chief marketing officer now owns 16,632 shares of the company's stock, valued at approximately $881,496. The trade was a 9.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $53.32, for a total transaction of $1,066,400.00. Following the sale, the chief executive officer now directly owns 923,765 shares of the company's stock, valued at $49,255,149.80. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,709 shares of company stock valued at $3,060,151 in the last quarter. Company insiders own 3.20% of the company's stock.

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.