UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,919,347 shares of the company's stock after selling 45,951 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 2.02% of AZEK worth $136,625,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC bought a new stake in shares of AZEK in the third quarter worth approximately $31,000. Farther Finance Advisors LLC raised its stake in AZEK by 183.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 753 shares of the company's stock valued at $35,000 after buying an additional 487 shares during the last quarter. Paladin Wealth LLC purchased a new position in shares of AZEK in the 3rd quarter worth $39,000. Blue Trust Inc. grew its holdings in shares of AZEK by 106.4% in the third quarter. Blue Trust Inc. now owns 931 shares of the company's stock worth $44,000 after acquiring an additional 480 shares during the period. Finally, Versant Capital Management Inc increased its position in AZEK by 5,452.2% during the second quarter. Versant Capital Management Inc now owns 1,277 shares of the company's stock valued at $54,000 after acquiring an additional 1,254 shares during the last quarter. 97.44% of the stock is currently owned by hedge funds and other institutional investors.
AZEK Price Performance
Shares of NYSE AZEK traded down $0.13 during midday trading on Monday, reaching $52.99. 1,140,481 shares of the stock traded hands, compared to its average volume of 1,701,981. The company's 50 day moving average is $46.12 and its 200 day moving average is $44.51. The AZEK Company Inc. has a one year low of $34.02 and a one year high of $54.16. The stock has a market capitalization of $7.58 billion, a PE ratio of 50.85, a P/E/G ratio of 2.34 and a beta of 1.88. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.14.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on AZEK shares. Stifel Nicolaus cut their price target on AZEK from $52.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Loop Capital downgraded 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. Robert W. Baird raised their price objective on AZEK from $52.00 to $54.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th. UBS Group cut their price objective on AZEK from $47.00 to $43.00 and set a "neutral" rating for the company in a research note on Thursday, August 8th. Finally, BMO Capital Markets lifted their price target on shares of AZEK from $49.00 to $51.00 and gave the company a "market perform" rating in a report on Wednesday, November 20th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $49.82.
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About AZEK
(
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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