Corient Private Wealth LLC cut its holdings in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 585,929 shares of the company's stock after selling 14,539 shares during the quarter. Corient Private Wealth LLC owned approximately 0.41% of AZEK worth $27,814,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new position in shares of AZEK in the 4th quarter valued at $27,000. Avalon Trust Co bought a new stake in AZEK during the fourth quarter valued at about $38,000. GAMMA Investing LLC grew 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 purchasing an additional 239 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in AZEK in the third quarter worth about $59,000. Finally, Millburn Ridgefield Corp purchased a new stake in shares of AZEK during the third quarter valued at about $84,000. 97.44% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have recently issued reports on AZEK. BMO Capital Markets lifted their price objective on shares of AZEK from $52.00 to $54.00 and gave the stock a "market perform" rating in a research report on Thursday, February 6th. Robert W. Baird upped their price target on AZEK from $54.00 to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 5th. Citigroup raised AZEK from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $51.00 to $60.00 in a research report on Monday, January 6th. Royal Bank of Canada upped their target price on AZEK from $50.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. raised their price target on AZEK from $48.00 to $58.00 and gave the stock an "overweight" rating in a report on Monday, November 25th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $54.85.
Check Out Our Latest Research Report on AZEK
Insider Transactions at AZEK
In related news, CEO Jesse G. Singh sold 19,613 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $44.98, for a total transaction of $882,192.74. Following the sale, the chief executive officer now directly owns 904,152 shares of the company's stock, valued at approximately $40,668,756.96. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 55,000 shares of company stock worth $2,518,624 over the last quarter. 3.20% of the stock is currently owned by insiders.
AZEK Stock Performance
NYSE:AZEK traded down $0.35 during midday trading on Friday, hitting $41.39. The company's stock had a trading volume of 1,679,458 shares, compared to its average volume of 1,648,970. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The firm has a market cap of $5.95 billion, a P/E ratio of 41.80, a P/E/G ratio of 1.91 and a beta of 1.95. The firm's 50 day moving average is $47.32 and its 200-day moving average is $47.10.
AZEK (NYSE:AZEK - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) 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%. Equities analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.
AZEK Profile
(
Free Report)
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.
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