Ranger Investment Management L.P. Trims Position in The AZEK Company Inc. (NYSE:AZEK)

Ranger Investment Management L.P. cut its holdings in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 32.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 295,685 shares of the company's stock after selling 139,265 shares during the quarter. Ranger Investment Management L.P. owned about 0.21% of AZEK worth $14,036,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AZEK. Janus Henderson Group PLC lifted its holdings in AZEK by 8.9% during the 3rd quarter. Janus Henderson Group PLC now owns 63,791 shares of the company's stock worth $2,986,000 after buying an additional 5,200 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of AZEK during the 3rd quarter valued at about $253,000. Stifel Financial Corp grew its position in shares of AZEK by 24.7% in the 3rd quarter. Stifel Financial Corp now owns 22,481 shares of the company's stock valued at $1,052,000 after purchasing an additional 4,454 shares during the period. State Street Corp increased its stake in AZEK by 1.9% during the 3rd quarter. State Street Corp now owns 2,451,483 shares of the company's stock worth $114,729,000 after purchasing an additional 45,774 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in AZEK by 292.3% during the 3rd quarter. XTX Topco Ltd now owns 21,928 shares of the company's stock worth $1,026,000 after buying an additional 16,338 shares during the period. Institutional investors and hedge funds own 97.44% of the company's stock.

Insider Buying and Selling at AZEK

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $41.03, for a total value of $615,450.00. Following the completion of the sale, the chief executive officer now owns 868,765 shares of the company's stock, valued at $35,645,427.95. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.20% of the company's stock.

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AZEK Price Performance

NYSE AZEK traded down $0.31 on Monday, reaching $47.12. The company had a trading volume of 708,511 shares, compared to its average volume of 2,143,939. The stock has a market capitalization of $6.77 billion, a PE ratio of 47.60, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The firm's 50 day moving average price is $46.40 and its 200 day moving average price is $47.55. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The AZEK Company Inc. has a 12 month low of $35.48 and a 12 month high of $54.91.

AZEK (NYSE:AZEK - Get Free Report) last released its quarterly 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%. As a group, equities analysts predict that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

Analysts Set New Price Targets

AZEK has been the subject of several recent research reports. Baird R W cut shares of AZEK from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. William Blair reissued a "market perform" rating on shares of AZEK in a research report on Monday, March 24th. Raymond James set a $51.50 price target on AZEK in a research report on Tuesday, March 25th. Robert W. Baird reissued a "neutral" rating and issued a $53.00 price objective (down previously from $58.00) on shares of AZEK in a report on Monday, March 24th. Finally, Citigroup restated a "neutral" rating and set a $51.50 target price (down from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $53.40.

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.