Victory Capital Management Inc. reduced its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 27.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 629,570 shares of the company's stock after selling 232,539 shares during the quarter. Victory Capital Management Inc. owned approximately 0.44% of AZEK worth $29,464,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV purchased a new stake in shares of AZEK during the second quarter valued at about $86,719,000. Price T Rowe Associates Inc. MD lifted its position in AZEK by 66.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company's stock valued at $73,631,000 after acquiring an additional 587,107 shares during the last quarter. Interval Partners LP boosted its stake in AZEK by 162.4% in the second quarter. Interval Partners LP now owns 742,749 shares of the company's stock valued at $31,292,000 after acquiring an additional 459,664 shares in the last quarter. Vanguard Group Inc. grew its holdings in AZEK by 3.2% in the first quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company's stock worth $677,082,000 after purchasing an additional 413,297 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of AZEK by 136.0% during the second quarter. Assenagon Asset Management S.A. now owns 635,244 shares of the company's stock worth $26,763,000 after purchasing an additional 366,025 shares in the last quarter. Institutional investors own 97.44% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on AZEK shares. Stifel Nicolaus lowered their price objective on AZEK from $52.00 to $50.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. UBS Group cut their price objective on shares of AZEK from $47.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their target price on shares of AZEK from $52.00 to $48.00 and set an "overweight" rating for the company in a research note on Tuesday, August 13th. BMO Capital Markets upped their price target on shares of AZEK from $46.00 to $49.00 and gave the company a "market perform" rating in a research note on Tuesday, October 22nd. Finally, Loop Capital cut shares of AZEK from a "buy" rating to a "hold" rating and set a $47.00 price target for the company. in a report on Friday, October 4th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $48.12.
Check Out Our Latest Analysis on AZEK
AZEK Stock Performance
Shares of AZEK traded down $1.09 during trading hours on Friday, hitting $45.67. The stock had a trading volume of 1,634,954 shares, compared to its average volume of 1,174,660. The firm has a 50-day moving average price of $44.80 and a 200 day moving average price of $44.21. The AZEK Company Inc. has a fifty-two week low of $30.36 and a fifty-two week high of $50.78. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 1.18 and a beta of 1.88. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07.
AZEK Profile
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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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