Polar Asset Management Partners Inc. Reduces Position in The AZEK Company Inc. (NYSE:AZEK)

Polar Asset Management Partners Inc. cut its position in The AZEK Company Inc. (NYSE:AZEK) by 15.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,100 shares of the company’s stock after selling 17,200 shares during the period. Polar Asset Management Partners Inc.’s holdings in AZEK were worth $4,467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Truist Financial Corp boosted its holdings in shares of AZEK by 1.6% in the 4th quarter. Truist Financial Corp now owns 16,706 shares of the company’s stock valued at $793,000 after buying an additional 255 shares in the last quarter. Investment House LLC boosted its holdings in shares of AZEK by 0.7% in the 4th quarter. Investment House LLC now owns 39,255 shares of the company’s stock valued at $1,863,000 after buying an additional 290 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of AZEK by 4.8% in the 4th quarter. Federated Hermes Inc. now owns 6,984 shares of the company’s stock valued at $332,000 after buying an additional 318 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of AZEK by 13.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company’s stock valued at $146,000 after buying an additional 352 shares in the last quarter. Finally, Integrated Wealth Concepts LLC boosted its holdings in shares of AZEK by 4.9% in the 4th quarter. Integrated Wealth Concepts LLC now owns 8,171 shares of the company’s stock valued at $388,000 after buying an additional 379 shares in the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AZEK. BMO Capital Markets upped their target price on shares of AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, March 24th. Barclays increased their price target on shares of AZEK from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. UBS Group decreased their price target on shares of AZEK from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Raymond James set a $51.50 target price on shares of AZEK in a report on Tuesday, March 25th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of AZEK in a report on Wednesday, March 26th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $53.93.

Insider Buying and Selling at AZEK

In other news, CEO Jesse G. Singh sold 15,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $41.03, for a total transaction of $615,450.00. Following the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is currently owned by insiders.

AZEK Price Performance

NYSE:AZEK opened at $51.32 on Friday. The AZEK Company Inc. has a 12-month low of $35.48 and a 12-month high of $54.91. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of 51.84, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The company’s 50-day moving average is $47.07 and its two-hundred day moving average is $48.29. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The business had revenue of $452.23 million for the quarter, compared to the consensus estimate of $444.75 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Research analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current year.

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.