Royal Bank of Canada Purchases 25,117 Shares of The AZEK Company Inc. (NYSE:AZEK)

Royal Bank of Canada grew its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 341,405 shares of the company's stock after purchasing an additional 25,117 shares during the quarter. Royal Bank of Canada owned approximately 0.24% of AZEK worth $16,206,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in AZEK. Vanguard Group Inc. boosted its holdings in shares of AZEK by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company's stock worth $685,032,000 after purchasing an additional 54,725 shares during the period. FMR LLC raised its position in AZEK by 80.7% during the 4th quarter. FMR LLC now owns 12,311,577 shares of the company's stock valued at $584,431,000 after purchasing an additional 5,499,986 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in AZEK by 15.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company's stock worth $156,396,000 after buying an additional 429,574 shares during the period. Wasatch Advisors LP lifted its holdings in AZEK by 11.6% in the 4th quarter. Wasatch Advisors LP now owns 2,084,014 shares of the company's stock worth $98,928,000 after buying an additional 216,849 shares during the period. Finally, Norges Bank purchased a new position in shares of AZEK during the fourth quarter valued at approximately $94,987,000. Institutional investors own 97.44% of the company's stock.

AZEK Stock Up 0.7%

AZEK stock traded up $0.34 during mid-day trading on Friday, reaching $49.38. The stock had a trading volume of 1,420,638 shares, compared to its average volume of 2,275,760. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91. The company has a 50-day moving average price of $48.68 and a two-hundred day moving average price of $48.59. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 49.89, a PEG ratio of 1.91 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

AZEK (NYSE:AZEK - Get Free Report) last issued 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. The firm had revenue of $452.23 million for the quarter, compared to the consensus estimate of $444.75 million. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The business's revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share. On average, analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AZEK has been the topic of several recent analyst reports. Citigroup reiterated a "neutral" rating and issued a $51.50 price target (down previously from $61.00) on shares of AZEK in a report on Tuesday, March 25th. UBS Group cut their target price on shares of AZEK from $55.00 to $51.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. William Blair reissued a "market perform" rating on shares of AZEK in a research note on Monday, March 24th. Baird R W lowered shares of AZEK from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Finally, Barclays upped their target price on AZEK from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $53.93.

Insider Buying and Selling at AZEK

In other news, CEO Jesse G. Singh sold 15,000 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 868,765 shares in the company, valued at $35,645,427.95. The trade was a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company 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.