Tidal Investments LLC Acquires 450,489 Shares of The AZEK Company Inc. (NYSE:AZEK)

Tidal Investments LLC boosted its position in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 4,255.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 461,076 shares of the company's stock after acquiring an additional 450,489 shares during the period. Tidal Investments LLC owned 0.32% of AZEK worth $21,887,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Shay Capital LLC bought a new position in AZEK in the fourth quarter valued at about $294,000. Royal Bank of Canada boosted its holdings in AZEK by 7.9% during the fourth quarter. Royal Bank of Canada now owns 341,405 shares of the company's stock worth $16,206,000 after buying an additional 25,117 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings 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 buying an additional 9,263 shares during the last quarter. Redwood Investment Management LLC bought a new position in AZEK during the fourth quarter worth about $1,415,000. Finally, Point72 Asset Management L.P. boosted its holdings in AZEK by 51.4% during the fourth quarter. Point72 Asset Management L.P. now owns 351,074 shares of the company's stock worth $16,665,000 after buying an additional 119,173 shares during the last quarter. Institutional investors own 97.44% of the company's stock.

AZEK Stock Down 1.0%

Shares of NYSE AZEK traded down $0.48 during mid-day trading on Friday, reaching $49.29. 2,185,469 shares of the company's stock were exchanged, compared to its average volume of 2,254,903. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 49.79, a PEG ratio of 1.91 and a beta of 1.86. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $48.24 and a 200 day simple moving average of $48.56. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91.

AZEK (NYSE:AZEK - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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 business had revenue of $452.23 million for the quarter, compared to analyst estimates of $444.75 million. During the same quarter last year, the firm earned $0.39 EPS. AZEK's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AZEK shares. William Blair restated a "market perform" rating on shares of AZEK in a report on Monday, March 24th. UBS Group reduced their target price on AZEK from $55.00 to $51.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Loop Capital reduced their target price on AZEK from $55.00 to $49.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Barclays raised 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. Finally, Raymond James set a $51.50 target price on AZEK in a report on Tuesday, March 25th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $53.93.

Insider Activity at AZEK

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the firm's stock in a transaction that occurred 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 directly owns 868,765 shares in the company, valued at $35,645,427.95. This trade represents 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. 3.20% of the stock is owned by insiders.

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.