Interval Partners LP Boosts Holdings in The AZEK Company Inc. (NYSE:AZEK)

Interval Partners LP lifted its holdings in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 317.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 402,007 shares of the company's stock after acquiring an additional 305,593 shares during the quarter. Interval Partners LP owned 0.28% of AZEK worth $19,083,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in AZEK by 0.4% in 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 last quarter. FMR LLC lifted its stake in shares of AZEK by 80.7% in the 4th quarter. FMR LLC now owns 12,311,577 shares of the company's stock valued at $584,431,000 after acquiring an additional 5,499,986 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in AZEK by 15.0% during the 4th quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company's stock valued at $156,396,000 after acquiring an additional 429,574 shares during the period. Wasatch Advisors LP grew its position in AZEK by 11.6% during the 4th quarter. Wasatch Advisors LP now owns 2,084,014 shares of the company's stock worth $98,928,000 after acquiring an additional 216,849 shares during the last quarter. Finally, Norges Bank purchased a new position in AZEK in the 4th quarter worth approximately $94,987,000. Hedge funds and other institutional investors own 97.44% of the company's stock.

AZEK Stock Up 0.9 %

Shares of AZEK stock opened at $50.33 on Friday. The AZEK Company Inc. has a 1 year low of $35.48 and a 1 year high of $54.91. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 50.84, a PEG ratio of 1.91 and a beta of 1.86. The company has a 50-day moving average of $46.43 and a 200 day moving average of $48.09. 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 released its earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $452.23 million during the quarter, compared to analyst estimates 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 period last year, the business earned $0.39 earnings per share. As a group, sell-side analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jesse G. Singh sold 20,387 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $50.08, for a total value of $1,020,980.96. Following the completion of the transaction, the chief executive officer now directly owns 883,765 shares in the company, valued at $44,258,951.20. The trade was a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AZEK. Barclays raised their price target on shares of AZEK from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Thursday. Baird R W cut AZEK from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Stephens lowered their price target on AZEK from $58.00 to $53.00 and set an "equal weight" rating for the company in a research report on Thursday. BMO Capital Markets increased their price objective on AZEK from $54.00 to $57.00 and gave the stock a "market perform" rating in a report on Monday, March 24th. Finally, Citigroup reissued a "neutral" rating and set a $51.50 target price (down from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $53.93.

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.

Want to see what other hedge funds are holding AZEK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The AZEK Company Inc. (NYSE:AZEK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.