Lazard Asset Management LLC Acquires 11,984 Shares of The AZEK Company Inc. (NYSE:AZEK)

Lazard Asset Management LLC raised its holdings in The AZEK Company Inc. (NYSE:AZEK) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 342,922 shares of the company’s stock after acquiring an additional 11,984 shares during the period. Lazard Asset Management LLC owned about 0.24% of AZEK worth $16,278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Interval Partners LP boosted its holdings in AZEK by 317.0% in the fourth quarter. Interval Partners LP now owns 402,007 shares of the company’s stock valued at $19,083,000 after acquiring an additional 305,593 shares during the last quarter. Eisler Capital Management Ltd. acquired a new position in shares of AZEK during the fourth quarter worth approximately $1,806,000. Ensign Peak Advisors Inc raised its position in shares of AZEK by 53.0% during the fourth quarter. Ensign Peak Advisors Inc now owns 132,910 shares of the company’s stock worth $6,309,000 after purchasing an additional 46,019 shares during the period. Frontier Capital Management Co. LLC raised its position in AZEK by 16.3% in the 4th quarter. Frontier Capital Management Co. LLC now owns 254,847 shares of the company’s stock valued at $12,098,000 after buying an additional 35,778 shares during the last quarter. Finally, Crestline Management LP purchased a new stake in AZEK in the 4th quarter valued at $3,821,000. 97.44% of the stock is currently owned by institutional investors.

AZEK Price Performance

Shares of AZEK stock opened at $51.91 on Wednesday. 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 business’s 50 day simple moving average is $46.68 and its two-hundred day simple moving average is $48.22. The stock has a market capitalization of $7.46 billion, a P/E ratio of 52.43, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. 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 quarterly earnings data 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 firm had revenue of $452.23 million for the quarter, compared to analyst estimates of $444.75 million. AZEK had a return on equity of 13.47% and a net margin of 9.85%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. Analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current year.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the firm’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 transaction of $615,450.00. Following the completion of the transaction, the chief executive officer now owns 868,765 shares of the company’s stock, valued at approximately $35,645,427.95. This trade represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

AZEK has been the subject of a number of analyst reports. Stephens lowered their price target on AZEK from $58.00 to $53.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. Raymond James set a $51.50 price target on AZEK in a research note on Tuesday, March 25th. Wolfe Research restated a “peer perform” rating on shares of AZEK in a research note on Wednesday, March 26th. UBS Group cut their target price on AZEK from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Finally, Robert W. Baird raised their price target on AZEK from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $53.93.

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.