Zacks Investment Management Cuts Position in The AZEK Company Inc. (NYSE:AZEK)

Zacks Investment Management cut its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 21.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,856 shares of the company's stock after selling 10,024 shares during the quarter. Zacks Investment Management's holdings in AZEK were worth $1,678,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of AZEK by 33.8% during the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company's stock worth $665,702,000 after buying an additional 3,595,863 shares during the period. FMR LLC boosted 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 acquiring an additional 2,497,074 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in AZEK during the 2nd quarter worth about $86,719,000. Interval Partners LP raised its position in shares of AZEK by 162.4% in the 2nd quarter. Interval Partners LP now owns 742,749 shares of the company's stock worth $31,292,000 after acquiring an additional 459,664 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of AZEK by 73.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,006,253 shares of the company's stock valued at $47,093,000 after purchasing an additional 425,609 shares during the period. Institutional investors own 97.44% of the company's stock.

AZEK Stock Down 1.4 %

Shares of NYSE:AZEK traded down $0.74 during mid-day trading on Tuesday, hitting $53.51. 1,478,716 shares of the company traded hands, compared to its average volume of 1,690,542. The stock has a 50-day moving average price of $47.00 and a two-hundred day moving average price of $44.80. The AZEK Company Inc. has a 12-month low of $34.51 and a 12-month high of $54.69. The stock has a market cap of $7.65 billion, a P/E ratio of 52.16, a P/E/G ratio of 2.39 and a beta of 1.92. The company has a current ratio of 2.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AZEK shares. Robert W. Baird raised their target price on AZEK from $52.00 to $54.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th. DA Davidson raised their price objective on shares of AZEK from $44.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 20th. Loop Capital downgraded shares of 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. Truist Financial raised their price target on shares of AZEK from $52.00 to $57.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Finally, Benchmark reiterated a "buy" rating and set a $55.00 price objective on shares of AZEK in a report on Thursday, November 21st. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, AZEK presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.63.

About AZEK

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.