TimesSquare Capital Management LLC Sells 100,275 Shares of The AZEK Company Inc. (NYSE:AZEK)

TimesSquare Capital Management LLC cut its position in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 769,597 shares of the company's stock after selling 100,275 shares during the period. TimesSquare Capital Management LLC owned approximately 0.52% of AZEK worth $29,437,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Redwood Investments LLC purchased a new position in AZEK in the 4th quarter worth about $2,893,000. Lecap Asset Management Ltd. bought a new stake in shares of AZEK during the fourth quarter valued at approximately $1,134,000. Sherbrooke Park Advisers LLC boosted its holdings in shares of AZEK by 62.8% in the third quarter. Sherbrooke Park Advisers LLC now owns 42,923 shares of the company's stock valued at $1,277,000 after purchasing an additional 16,565 shares during the period. Vanguard Group Inc. grew its stake in AZEK by 7.3% in the third quarter. Vanguard Group Inc. now owns 13,012,414 shares of the company's stock worth $386,989,000 after purchasing an additional 881,697 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. bought a new position in AZEK in the third quarter worth approximately $1,731,000. 97.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AZEK has been the subject of several research reports. Stephens upped their target price on AZEK from $40.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, February 7th. Royal Bank of Canada raised their target price on shares of AZEK from $43.00 to $49.00 and gave the company an "outperform" rating in a research report on Wednesday, February 7th. B. Riley upped their price target on shares of AZEK from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, February 7th. Stifel Nicolaus lifted their price objective on shares of AZEK from $44.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, February 7th. Finally, TheStreet upgraded AZEK from a "c+" rating to a "b-" rating in a report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $44.94.

AZEK Stock Performance

Shares of AZEK stock traded down $1.27 during midday trading on Wednesday, hitting $44.91. The company had a trading volume of 4,802,684 shares, compared to its average volume of 1,520,805. The company has a fifty day simple moving average of $47.78 and a 200 day simple moving average of $40.28. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of 56.85, a PEG ratio of 1.50 and a beta of 1.93. The company has a quick ratio of 1.67, a current ratio of 2.99 and a debt-to-equity ratio of 0.43. The AZEK Company Inc. has a 12-month low of $23.08 and a 12-month high of $50.78.

AZEK (NYSE:AZEK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.05. AZEK had a net margin of 8.57% and a return on equity of 9.61%. The business had revenue of $240.44 million during the quarter, compared to analysts' expectations of $234.12 million. As a group, analysts predict that The AZEK Company Inc. will post 1.03 earnings per share for the current fiscal year.

Insider Activity at AZEK

In other AZEK news, insider Michelle A. Kasson sold 94,431 shares of AZEK stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $49.47, for a total transaction of $4,671,501.57. Following the completion of the sale, the insider now owns 23,544 shares of the company's stock, valued at approximately $1,164,721.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jesse G. Singh sold 13,000 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.34, for a total value of $589,420.00. Following the sale, the chief executive officer now directly owns 1,184,444 shares of the company's stock, valued at approximately $53,702,690.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michelle A. Kasson sold 94,431 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.47, for a total transaction of $4,671,501.57. Following the transaction, the insider now directly owns 23,544 shares of the company's stock, valued at approximately $1,164,721.68. The disclosure for this sale can be found here. Insiders have sold a total of 130,431 shares of company stock valued at $6,356,622 in the last ninety days. Company insiders own 3.10% of the company's stock.

AZEK Company 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.

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