Impax Asset Management Group plc Sells 160,666 Shares of The AZEK Company Inc. (NYSE:AZEK)

Impax Asset Management Group plc trimmed its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 10.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,376,510 shares of the company's stock after selling 160,666 shares during the quarter. Impax Asset Management Group plc owned approximately 0.96% of AZEK worth $66,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. FIL Ltd acquired a new stake in AZEK in the fourth quarter valued at approximately $28,000. NBC Securities Inc. bought a new stake in AZEK during the first quarter worth $29,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in AZEK by 623.2% during the fourth 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 during the period. Parallel Advisors LLC lifted its holdings in AZEK by 261.4% during the first quarter. Parallel Advisors LLC now owns 683 shares of the company's stock worth $33,000 after acquiring an additional 494 shares during the period. Finally, Avalon Trust Co bought a new stake in shares of AZEK in the fourth quarter valued at $38,000. 97.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on AZEK. UBS Group lowered their target price on AZEK from $55.00 to $51.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Robert W. Baird boosted 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. William Blair reiterated a "market perform" rating on shares of AZEK in a report on Monday, March 24th. Raymond James Financial set a $51.50 target price on AZEK in a research note on Tuesday, March 25th. Finally, Loop Capital lowered their target price on AZEK from $55.00 to $49.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, AZEK presently has a consensus rating of "Hold" and an average target price of $53.93.

AZEK Price Performance

Shares of AZEK stock remained flat at $54.35 during midday trading on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.47 and a current ratio of 2.45. The company has a market capitalization of $7.82 billion, a PE ratio of 53.28 and a beta of 1.82. The business's 50 day moving average price is $51.73 and its 200 day moving average price is $48.95. The AZEK Company Inc. has a 12 month low of $35.48 and a 12 month high of $54.91.

AZEK (NYSE:AZEK - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. AZEK had a return on equity of 13.87% and a net margin of 9.92%. The company had revenue of $452.23 million for the quarter, compared to the consensus estimate of $444.75 million. During the same quarter in the prior year, the business posted $0.39 EPS. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current year.

Insider Buying and Selling

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the sale, the chief executive officer directly owned 852,765 shares in the company, valued at approximately $43,832,121. This trade represents a 2.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.20% of the company's stock.

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.