Moore Capital Management LP Buys New Shares in The AZEK Company Inc. (NYSE:AZEK)

Moore Capital Management LP bought a new stake in The AZEK Company Inc. (NYSE:AZEK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 114,441 shares of the company’s stock, valued at approximately $5,433,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in AZEK by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company’s stock valued at $685,032,000 after acquiring an additional 54,725 shares during the last quarter. FMR LLC grew its stake in shares of AZEK by 80.7% during the fourth quarter. FMR LLC now owns 12,311,577 shares of the company’s stock valued at $584,431,000 after buying an additional 5,499,986 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of AZEK by 15.0% during the fourth quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company’s stock valued at $156,396,000 after buying an additional 429,574 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of AZEK by 11.6% during the fourth quarter. Wasatch Advisors LP now owns 2,084,014 shares of the company’s stock valued at $98,928,000 after buying an additional 216,849 shares during the last quarter. Finally, Norges Bank bought a new position in shares of AZEK during the fourth quarter valued at about $94,987,000. Institutional investors own 97.44% of the company’s stock.

AZEK Stock Performance

AZEK stock opened at $51.47 on Tuesday. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average of $46.54 and a 200-day moving average of $48.19. The firm has a market cap 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 AZEK Company Inc. has a 1-year low of $35.48 and a 1-year high of $54.91.

AZEK (NYSE:AZEK) last posted its earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $452.23 million during the quarter, compared to analyst estimates of $444.75 million. AZEK had a net margin of 9.85% and a return on equity of 13.47%. AZEK’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. Sell-side analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current year.

Insiders Place Their Bets

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the firm’s stock in a transaction dated 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 directly owns 868,765 shares in the company, valued at $35,645,427.95. This trade represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AZEK shares. Barclays raised their price objective on AZEK from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Loop Capital reduced their price objective on AZEK from $55.00 to $49.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. Wolfe Research reaffirmed a “peer perform” rating on shares of AZEK in a research note on Wednesday, March 26th. William Blair reaffirmed a “market perform” rating on shares of AZEK in a research note on Monday, March 24th. Finally, Stephens reduced their price objective on AZEK from $58.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $53.93.

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.