The AZEK Company Inc. (NYSE:AZEK) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC trimmed its position in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 98.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,332 shares of the company's stock after selling 354,718 shares during the period. Verition Fund Management LLC's holdings in AZEK were worth $343,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AZEK. FMR LLC lifted its position in AZEK by 57.9% during the third quarter. FMR LLC now owns 6,811,591 shares of the company's stock valued at $318,782,000 after purchasing an additional 2,497,074 shares during the period. Dimensional Fund Advisors LP grew its holdings in AZEK by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company's stock worth $99,175,000 after acquiring an additional 118,351 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in AZEK during the second quarter valued at approximately $86,719,000. Point72 Asset Management L.P. lifted its holdings in AZEK by 14.6% in the second quarter. Point72 Asset Management L.P. now owns 1,377,883 shares of the company's stock valued at $58,050,000 after acquiring an additional 175,841 shares during the period. Finally, Millennium Management LLC boosted its position in AZEK by 25.7% in the 2nd quarter. Millennium Management LLC now owns 1,298,920 shares of the company's stock worth $54,724,000 after purchasing an additional 265,827 shares in the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

AZEK Price Performance

AZEK stock traded down $0.45 during midday trading on Friday, reaching $53.51. The stock had a trading volume of 1,299,439 shares, compared to its average volume of 1,684,378. The AZEK Company Inc. has a 52-week low of $35.38 and a 52-week high of $54.91. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 51.45, a price-to-earnings-growth ratio of 2.40 and a beta of 1.92. The company's fifty day simple moving average is $47.66 and its 200 day simple moving average is $45.01. The company has a current ratio of 2.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Analyst Ratings Changes

Several research firms have recently weighed in on AZEK. Barclays lifted their target price on shares of AZEK from $58.00 to $64.00 and gave the company an "overweight" rating in a report on Wednesday. DA Davidson lifted their price objective on shares of AZEK from $44.00 to $50.00 and gave the company a "neutral" rating in a report on Wednesday, November 20th. Benchmark reiterated a "buy" rating and issued a $55.00 price objective on shares of AZEK in a research report on Thursday, November 21st. Truist Financial raised their target price on AZEK from $52.00 to $57.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. upped 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. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, AZEK presently has an average rating of "Moderate Buy" and a consensus price target of $52.67.

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.