Redwood Investment Management LLC Makes New Investment in The AZEK Company Inc. (NYSE:AZEK)

Redwood Investment Management LLC bought a new position in The AZEK Company Inc. (NYSE:AZEK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 29,817 shares of the company's stock, valued at approximately $1,415,000.

Other institutional investors also recently modified their holdings of the company. Point72 Asset Management L.P. raised its stake in shares of AZEK by 51.4% during the fourth quarter. Point72 Asset Management L.P. now owns 351,074 shares of the company's stock worth $16,665,000 after buying an additional 119,173 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of AZEK by 10.3% during the fourth quarter. Quantinno Capital Management LP now owns 44,185 shares of the company's stock worth $2,097,000 after buying an additional 4,143 shares during the last quarter. Moore Capital Management LP acquired a new position in AZEK during the fourth quarter valued at approximately $5,433,000. Lazard Asset Management LLC boosted its holdings in AZEK by 3.6% during the fourth quarter. Lazard Asset Management LLC now owns 342,922 shares of the company's stock worth $16,278,000 after purchasing an additional 11,984 shares during the last quarter. Finally, Interval Partners LP raised its position in AZEK by 317.0% during the fourth quarter. Interval Partners LP now owns 402,007 shares of the company's stock worth $19,083,000 after acquiring an additional 305,593 shares in the last quarter. 97.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AZEK shares. Barclays upped their price target on shares of AZEK from $53.00 to $57.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Citigroup reissued a "neutral" rating and issued a $51.50 price objective (down from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Baird R W lowered shares of AZEK from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Raymond James set a $51.50 price objective on shares of AZEK in a research report on Tuesday, March 25th. Finally, Robert W. Baird lifted their price objective on shares of AZEK from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Ten 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, AZEK has a consensus rating of "Hold" and an average target price of $53.93.

AZEK Stock Down 0.8%

AZEK traded down $0.42 during trading on Tuesday, hitting $50.82. 2,967,185 shares of the company's stock were exchanged, compared to its average volume of 2,228,853. The business's 50 day moving average is $47.50 and its two-hundred day moving average is $48.45. The stock has a market cap of $7.31 billion, a P/E ratio of 51.33, a PEG 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. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91.

AZEK (NYSE:AZEK - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The company had revenue of $452.23 million during the quarter, compared to the consensus estimate of $444.75 million. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share. As a group, equities analysts expect that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jesse G. Singh sold 15,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $35,645,427.95. This represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is currently owned by corporate 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.