Assenagon Asset Management S.A. Has $54.58 Million Stake in The AZEK Company Inc. (NYSE:AZEK)

Assenagon Asset Management S.A. lifted its position in The AZEK Company Inc. (NYSE:AZEK) by 1,280.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,116,458 shares of the company’s stock after buying an additional 1,035,610 shares during the quarter. Assenagon Asset Management S.A.’s holdings in AZEK were worth $54,584,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new stake in AZEK in the fourth quarter worth approximately $27,000. Legato Capital Management LLC acquired a new stake in shares of AZEK in the 4th quarter valued at $695,000. Congress Asset Management Co. lifted its stake in shares of AZEK by 16.5% in the 4th quarter. Congress Asset Management Co. now owns 381,283 shares of the company’s stock valued at $18,100,000 after purchasing an additional 53,985 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in AZEK by 1,047.4% in the fourth quarter. Principal Financial Group Inc. now owns 135,364 shares of the company’s stock worth $6,426,000 after purchasing an additional 123,567 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in AZEK by 6.1% in the fourth quarter. Sanctuary Advisors LLC now owns 11,918 shares of the company’s stock worth $620,000 after purchasing an additional 689 shares in the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Baird R W lowered AZEK from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. 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. Citigroup restated a “neutral” rating and issued a $51.50 target price (down from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Stephens lowered their price target on AZEK from $58.00 to $53.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Finally, Robert W. Baird lifted their price target on shares of AZEK from $48.00 to $52.00 and gave the company a “neutral” rating in a research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $53.93.

AZEK Trading Down 0.4%

Shares of AZEK stock opened at $54.25 on Thursday. The firm has a market capitalization of $7.80 billion, a P/E ratio of 54.80, a price-to-earnings-growth ratio of 1.91 and a beta of 1.82. The AZEK Company Inc. has a 1 year low of $35.48 and a 1 year high of $54.91. The firm’s fifty day simple moving average is $49.38 and its 200 day simple moving average is $48.91. 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 posted its quarterly earnings data 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 net margin of 9.85% and a return on equity of 13.47%. The company had revenue of $452.23 million for the quarter, compared to the consensus estimate of $444.75 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts predict that The AZEK Company Inc. will post 1.34 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was 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 directly owns 852,765 shares of the company’s stock, valued at $43,832,121. This trade represents a 2.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is owned by company insiders.

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.