Crestline Management LP Invests $3.82 Million in The AZEK Company Inc. (NYSE:AZEK)

Crestline Management LP purchased a new stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 80,492 shares of the company's stock, valued at approximately $3,821,000. Crestline Management LP owned approximately 0.06% of AZEK at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AZEK. FMR LLC lifted its stake in AZEK by 80.7% during the fourth quarter. FMR LLC now owns 12,311,577 shares of the company's stock valued at $584,431,000 after buying an additional 5,499,986 shares in the last quarter. Norges Bank acquired a new position in shares of AZEK in the 4th quarter valued at about $94,987,000. Balyasny Asset Management L.P. increased its holdings in shares of AZEK by 493.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,681,629 shares of the company's stock valued at $79,827,000 after purchasing an additional 1,398,340 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of AZEK by 72.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company's stock valued at $92,903,000 after purchasing an additional 823,588 shares during the period. Finally, Rockefeller Capital Management L.P. increased its holdings in AZEK by 101.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 859,910 shares of the company's stock worth $40,820,000 after buying an additional 433,125 shares during the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AZEK shares. BMO Capital Markets increased their price objective on AZEK from $54.00 to $57.00 and gave the stock a "market perform" rating in a report on Monday, March 24th. UBS Group lowered their price target on AZEK from $55.00 to $51.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Baird R W cut AZEK from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. William Blair reissued a "market perform" rating on shares of AZEK in a report on Monday, March 24th. Finally, Stephens cut their price objective on AZEK from $58.00 to $53.00 and set an "equal weight" rating for the company in a report on Thursday. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $53.93.

AZEK Trading Up 1.8%

AZEK stock traded up $0.92 during midday trading on Monday, reaching $51.21. The stock had a trading volume of 1,023,428 shares, compared to its average volume of 2,210,890. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 51.80, a PEG ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The business has a fifty day simple moving average of $46.43 and a two-hundred day simple moving average of $48.13. 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 - Get Free Report) 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 company had revenue of $452.23 million during the quarter, compared to analyst estimates of $444.75 million. During the same period in the previous year, the company earned $0.39 EPS. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, research analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

Insider Activity

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $41.03, for a total value of $615,450.00. Following the sale, the chief executive officer now owns 868,765 shares in the company, valued at approximately $35,645,427.95. The trade was a 1.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.20% of the stock is currently 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.