5,339 Shares in The AZEK Company Inc. (NYSE:AZEK) Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC purchased a new stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,339 shares of the company's stock, valued at approximately $261,000.

Other hedge funds also recently modified their holdings of the company. Empowered Funds LLC acquired a new position in shares of AZEK during the 4th quarter valued at $27,000. FIL Ltd bought a new stake in shares of AZEK during the 4th quarter worth $28,000. NBC Securities Inc. bought a new stake in shares of AZEK during the 1st quarter worth $29,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of AZEK by 623.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company's stock worth $33,000 after acquiring an additional 592 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of AZEK by 261.4% during the 1st quarter. Parallel Advisors LLC now owns 683 shares of the company's stock worth $33,000 after acquiring an additional 494 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors and hedge funds.

AZEK Stock Down 1.5%

Shares of NYSE:AZEK traded down $0.82 on Friday, reaching $53.33. The company had a trading volume of 1,781,173 shares, compared to its average volume of 2,403,619. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The stock has a 50-day moving average price of $49.77 and a 200 day moving average price of $48.92. The stock has a market capitalization of $7.67 billion, a P/E ratio of 53.87, a P/E/G ratio of 1.91 and a beta of 1.82. 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 announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $444.75 million. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The business's quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on AZEK. 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. Barclays raised their target price on AZEK from $53.00 to $57.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Wolfe Research reaffirmed a "peer perform" rating on shares of AZEK in a research report on Wednesday, March 26th. Citigroup reaffirmed a "neutral" rating and issued a $51.50 target price (down previously from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Finally, Robert W. Baird raised their target price on AZEK from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Ten investment 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.com, AZEK presently has an average rating of "Hold" and a consensus price target of $53.93.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction dated 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 transaction, the chief executive officer now directly owns 852,765 shares in the company, valued at approximately $43,832,121. The trade was a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.20% of the company's stock.

AZEK Company 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.