The AZEK Company Inc. (NYSE:AZEK) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. grew its holdings in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 51.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 351,074 shares of the company's stock after purchasing an additional 119,173 shares during the quarter. Point72 Asset Management L.P. owned 0.25% of AZEK worth $16,665,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Truist Financial Corp boosted its position in AZEK by 1.6% in the 4th quarter. Truist Financial Corp now owns 16,706 shares of the company's stock valued at $793,000 after buying an additional 255 shares during the period. Investment House LLC boosted its holdings in AZEK by 0.7% in the fourth quarter. Investment House LLC now owns 39,255 shares of the company's stock valued at $1,863,000 after purchasing an additional 290 shares during the period. Federated Hermes Inc. grew its stake in AZEK by 4.8% during the 4th quarter. Federated Hermes Inc. now owns 6,984 shares of the company's stock worth $332,000 after purchasing an additional 318 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in AZEK by 13.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company's stock worth $146,000 after purchasing an additional 352 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its holdings in AZEK by 4.9% during the 4th quarter. Integrated Wealth Concepts LLC now owns 8,171 shares of the company's stock worth $388,000 after purchasing an additional 379 shares during the period. Hedge funds and other institutional investors own 97.44% of the company's stock.

AZEK Stock Performance

Shares of AZEK stock traded down $0.49 during mid-day trading on Friday, hitting $49.28. 932,155 shares of the stock were exchanged, compared to its average volume of 2,240,246. The stock's fifty day simple moving average is $48.07 and its two-hundred day simple moving average is $48.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The AZEK Company Inc. has a 12-month low of $35.48 and a 12-month high of $54.91. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 49.84, a P/E/G ratio of 1.91 and a beta of 1.86.

AZEK (NYSE:AZEK - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) 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 firm had revenue of $452.23 million for the quarter, compared to the consensus estimate of $444.75 million. During the same quarter last 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, analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current year.

Analyst Upgrades and Downgrades

AZEK has been the subject of several recent research reports. Loop Capital decreased their price objective on AZEK from $55.00 to $49.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. BMO Capital Markets lifted their price target on shares of AZEK from $54.00 to $57.00 and gave the stock a "market perform" rating in a research note on Monday, March 24th. Raymond James set a $51.50 price target on shares of AZEK in a report on Tuesday, March 25th. Citigroup reissued a "neutral" rating and issued a $51.50 price objective (down from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Finally, William Blair restated a "market perform" rating on shares of AZEK in a report on Monday, March 24th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $53.93.

Insider Activity

In other news, CEO Jesse G. Singh sold 15,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $41.03, for a total transaction of $615,450.00. Following the completion of the sale, the chief executive officer now owns 868,765 shares in the company, valued at approximately $35,645,427.95. This represents a 1.70% 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. Corporate insiders own 3.20% of the company's stock.

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.