Tabor Asset Management LP Acquires New Shares in The AZEK Company Inc. (NYSE:AZEK)

Tabor Asset Management LP purchased a new position in The AZEK Company Inc. (NYSE:AZEK - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 48,227 shares of the company's stock, valued at approximately $2,289,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Tidal Investments LLC boosted its stake in AZEK by 4,255.1% during the 4th quarter. Tidal Investments LLC now owns 461,076 shares of the company's stock worth $21,887,000 after purchasing an additional 450,489 shares during the last quarter. Shay Capital LLC acquired a new position in AZEK in the fourth quarter valued at about $294,000. Royal Bank of Canada lifted its position in AZEK by 7.9% in the fourth quarter. Royal Bank of Canada now owns 341,405 shares of the company's stock valued at $16,206,000 after buying an additional 25,117 shares during the last quarter. Rafferty Asset Management LLC increased its stake in AZEK by 28.3% during the fourth quarter. Rafferty Asset Management LLC now owns 42,021 shares of the company's stock worth $1,995,000 after purchasing an additional 9,263 shares during the period. Finally, Redwood Investment Management LLC purchased a new stake in shares of AZEK during the fourth quarter worth approximately $1,415,000. Hedge funds and other institutional investors own 97.44% of the company's stock.

AZEK Stock Performance

AZEK stock traded down $0.48 during mid-day trading on Friday, reaching $49.29. 2,185,469 shares of the company were exchanged, compared to its average volume of 2,249,640. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The firm's 50-day simple moving average is $48.24 and its two-hundred day simple moving average is $48.54. 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 firm has a market cap of $7.09 billion, a PE ratio of 49.79, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86.

AZEK (NYSE:AZEK - Get Free Report) last posted its quarterly earnings data 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 period last year, the firm earned $0.39 EPS. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts predict that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AZEK shares. Raymond James set a $51.50 price target on shares of AZEK in a research note on Tuesday, March 25th. Barclays upped their target price on AZEK from $53.00 to $57.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Baird R W cut AZEK from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Robert W. Baird upped their target price on AZEK from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, Citigroup reissued a "neutral" rating and issued a $51.50 target price (down from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $53.93.

Insider Activity

In other news, CEO Jesse G. Singh sold 20,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 852,765 shares of the company's stock, valued at $43,832,121. This trade represents a 2.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.