The AZEK Company Inc. (NYSE:AZEK) Shares Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP grew its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 82.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,919 shares of the company's stock after purchasing an additional 5,372 shares during the period. Dark Forest Capital Management LP's holdings in AZEK were worth $566,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC acquired a new stake in AZEK in the fourth quarter valued at approximately $27,000. FIL Ltd purchased a new position in shares of AZEK during the 4th quarter valued at approximately $28,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in AZEK by 623.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company's stock valued at $33,000 after acquiring an additional 592 shares during the period. Avalon Trust Co purchased a new stake in AZEK in the 4th quarter worth $38,000. Finally, GAMMA Investing LLC raised its position in AZEK by 39.1% during the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company's stock worth $40,000 after acquiring an additional 239 shares during the period. Institutional investors and hedge funds own 97.44% of the company's stock.

Insider Activity at AZEK

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

Analysts Set New Price Targets

AZEK has been the topic of several research analyst reports. Wolfe Research reiterated a "peer perform" rating on shares of AZEK in a research report on Wednesday, March 26th. Citigroup reiterated a "neutral" rating and issued a $51.50 price objective (down from $61.00) on shares of AZEK in a report on Tuesday, March 25th. BMO Capital Markets increased their target price on AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a report on Monday, March 24th. Barclays lowered their price target on AZEK from $64.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Stephens cut AZEK from an "overweight" rating to a "mixed" rating in a research report on Monday, March 24th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $53.53.

AZEK Stock Down 0.0 %

Shares of AZEK traded down $0.02 during midday trading on Thursday, reaching $49.54. The stock had a trading volume of 483,178 shares, compared to its average volume of 2,214,129. The company's fifty day simple moving average is $45.91 and its two-hundred day simple moving average is $47.77. The AZEK Company Inc. has a 1-year low of $35.48 and a 1-year high of $54.91. 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 company has a market cap of $7.12 billion, a price-to-earnings ratio of 50.05, a PEG ratio of 1.91 and a beta of 1.86.

AZEK (NYSE:AZEK - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Equities research analysts expect that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

About AZEK

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.