The AZEK Company Inc. (NYSE:AZEK) Shares Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. lifted its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 51.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 351,074 shares of the company’s stock after purchasing an additional 119,173 shares during the period. Point72 Asset Management L.P.’s holdings in AZEK were worth $16,665,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC increased its stake in AZEK by 96.0% during the 3rd quarter. Barclays PLC now owns 191,588 shares of the company’s stock worth $8,966,000 after buying an additional 93,819 shares in the last quarter. Artemis Investment Management LLP increased its position in shares of AZEK by 40.8% during the fourth quarter. Artemis Investment Management LLP now owns 661,057 shares of the company’s stock worth $31,380,000 after purchasing an additional 191,453 shares in the last quarter. Diversify Wealth Management LLC raised its stake in AZEK by 44.8% in the 4th quarter. Diversify Wealth Management LLC now owns 14,976 shares of the company’s stock valued at $671,000 after purchasing an additional 4,637 shares during the last quarter. Gradient Investments LLC grew its holdings in shares of AZEK by 834.9% during the fourth quarter. Gradient Investments LLC now owns 410,233 shares of the company’s stock worth $19,474,000 after buying an additional 366,352 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of AZEK by 94.2% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock valued at $85,000 after buying an additional 877 shares during the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.

Wall Street Analyst Weigh In

AZEK has been the topic of a number of analyst reports. Barclays lifted their price objective on AZEK from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Raymond James set a $51.50 target price on shares of AZEK in a research note on Tuesday, March 25th. Stephens dropped their price target on shares of AZEK from $58.00 to $53.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Wolfe Research restated a “peer perform” rating on shares of AZEK in a report on Wednesday, March 26th. Finally, Loop Capital decreased their price objective on AZEK from $55.00 to $49.00 and set a “hold” rating on the stock in a report on Thursday, April 17th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $53.93.

Insiders Place Their Bets

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $51.40, for a total value of $1,028,000.00. Following the completion of the transaction, the chief executive officer now owns 852,765 shares in the company, valued at $43,832,121. The trade was a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.20% of the company’s stock.

AZEK Stock Down 0.3%

NYSE:AZEK opened at $51.19 on Friday. The AZEK Company Inc. has a 52 week low of $35.48 and a 52 week high of $54.91. The stock’s fifty day moving average is $47.29 and its two-hundred day moving average is $48.37. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 51.71, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31.

AZEK (NYSE:AZEK) last posted its earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. AZEK had a return on equity of 13.47% and a net margin of 9.85%. The firm had revenue of $452.23 million for the quarter, compared to analyst estimates of $444.75 million. During the same quarter in the prior year, the company earned $0.39 EPS. AZEK’s revenue was up 8.1% on a year-over-year basis. Research 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.