Bank of America Corp DE lifted its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 25.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,253,806 shares of the company's stock after purchasing an additional 257,744 shares during the period. Bank of America Corp DE owned approximately 0.88% of AZEK worth $59,518,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Blue Trust Inc. lifted its holdings in 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 period. Charles Schwab Investment Management Inc. lifted its holdings in AZEK by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,169,551 shares of the company's stock valued at $55,519,000 after buying an additional 24,249 shares during the period. Proficio Capital Partners LLC acquired a new position in AZEK in the fourth quarter valued at approximately $717,000. Raymond James Financial Inc. acquired a new position in AZEK in the fourth quarter valued at approximately $19,436,000. Finally, Sanctuary Advisors LLC lifted its holdings in AZEK by 6.1% in the fourth quarter. Sanctuary Advisors LLC now owns 11,918 shares of the company's stock valued at $620,000 after buying an additional 689 shares during the period. 97.44% of the stock is currently owned by institutional investors and hedge funds.
AZEK Price Performance
NYSE:AZEK traded down $0.14 during trading hours on Friday, hitting $51.19. The stock had a trading volume of 1,565,105 shares, compared to its average volume of 2,212,393. The company has a 50 day simple moving average of $47.29 and a two-hundred day simple moving average of $48.34. 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 AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of 51.71, a P/E/G ratio of 1.91 and a beta of 1.86.
AZEK (NYSE:AZEK - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. The company had revenue of $452.23 million for the quarter, compared to analysts' expectations of $444.75 million. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The firm's revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS. Research analysts forecast that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.
Insider Buying and Selling
In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction dated 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 directly owns 852,765 shares of the company's stock, valued at approximately $43,832,121. The trade was a 2.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.20% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on AZEK. UBS Group cut their target price on shares of AZEK from $55.00 to $51.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Loop Capital dropped their price objective on AZEK from $55.00 to $49.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Barclays raised their price objective on AZEK from $53.00 to $57.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. BMO Capital Markets raised their price objective on AZEK from $54.00 to $57.00 and gave the stock a "market perform" rating in a research note on Monday, March 24th. Finally, Baird R W downgraded AZEK from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $53.93.
Get Our Latest Analysis on AZEK
About AZEK
(
Free Report)
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.
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