Gotham Asset Management LLC Decreases Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Gotham Asset Management LLC cut its holdings in The AZEK Company Inc. (NYSE:AZEK) by 22.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 169,439 shares of the company’s stock after selling 50,024 shares during the period. Gotham Asset Management LLC’s holdings in AZEK were worth $8,043,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Empowered Funds LLC bought a new stake in shares of AZEK in the 4th quarter worth about $27,000. FIL Ltd bought a new stake in shares of AZEK in the 4th quarter worth about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of AZEK by 623.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock worth $33,000 after buying an additional 592 shares during the last quarter. Avalon Trust Co bought a new stake in shares of AZEK in the 4th quarter worth about $38,000. Finally, GAMMA Investing LLC increased its holdings in shares of AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after buying an additional 239 shares during the last quarter. 97.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 15,000 shares of the company’s stock in a transaction that occurred on 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 approximately $35,645,427.95. This represents a 1.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AZEK shares. Barclays boosted their target price on shares of AZEK from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Loop Capital cut their price target on shares of AZEK from $55.00 to $49.00 and set a “hold” rating on the stock in a report on Thursday, April 17th. Wolfe Research reiterated a “peer perform” rating on shares of AZEK in a report on Wednesday, March 26th. UBS Group cut their price target on shares of AZEK from $55.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Finally, Raymond James set a $51.50 price target on shares of AZEK in a report on Tuesday, March 25th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $53.93.

AZEK Price Performance

Shares of AZEK stock opened at $51.47 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The company has a market capitalization of $7.40 billion, a P/E ratio of 51.99, a P/E/G ratio of 1.91 and a beta of 1.86. The company’s 50-day simple moving average is $46.54 and its two-hundred day simple moving average is $48.19. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91.

AZEK (NYSE:AZEK) last issued its earnings results on Tuesday, May 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $452.23 million for the quarter, compared to the consensus estimate of $444.75 million. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 EPS. As a group, equities analysts anticipate that The AZEK Company Inc. will post 1.34 EPS for the current year.

AZEK 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.