Victory Capital Management Inc. Cuts Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

Victory Capital Management Inc. lessened its position in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 639,729 shares of the company's stock after selling 114,679 shares during the period. Victory Capital Management Inc. owned approximately 0.43% of AZEK worth $24,470,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. CWM LLC grew its stake in shares of AZEK by 81.3% in the 4th quarter. CWM LLC now owns 2,022 shares of the company's stock worth $77,000 after purchasing an additional 907 shares during the last quarter. CI Investments Inc. acquired a new position in shares of AZEK in the third quarter worth about $153,000. Federated Hermes Inc. boosted its holdings in shares of AZEK by 80.4% in the fourth quarter. Federated Hermes Inc. now owns 4,353 shares of the company's stock worth $167,000 after buying an additional 1,940 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of AZEK in the third quarter worth about $200,000. Finally, Bailard Inc. acquired a new position in shares of AZEK in the fourth quarter worth about $203,000. Institutional investors and hedge funds own 97.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stifel Nicolaus raised their target price on shares of AZEK from $44.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, February 7th. B. Riley raised their target price on shares of AZEK from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, February 7th. Robert W. Baird decreased their price target on shares of AZEK from $60.00 to $58.00 and set an "outperform" rating for the company in a report on Thursday. Benchmark began coverage on shares of AZEK in a report on Friday, April 19th. They set a "buy" rating and a $55.00 price target for the company. Finally, BMO Capital Markets raised their price target on shares of AZEK from $39.00 to $46.00 and gave the stock an "outperform" rating in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $44.83.

AZEK Stock Performance

NYSE AZEK traded up $0.42 on Thursday, hitting $45.34. 3,577,776 shares of the stock were exchanged, compared to its average volume of 1,543,938. The business's fifty day moving average is $47.78 and its 200 day moving average is $40.28. The company has a market capitalization of $6.70 billion, a PE ratio of 56.85, a P/E/G ratio of 1.50 and a beta of 1.93. The AZEK Company Inc. has a 52 week low of $23.08 and a 52 week high of $50.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.99 and a quick ratio of 1.67.

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

Insiders Place Their Bets

In related news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $48.30, for a total value of $627,900.00. Following the completion of the sale, the chief executive officer now owns 1,083,444 shares of the company's stock, valued at approximately $52,330,345.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Jonathan Skelly sold 10,000 shares of the business's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $46.78, for a total transaction of $467,800.00. Following the completion of the transaction, the insider now directly owns 180,784 shares in the company, valued at $8,457,075.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jesse G. Singh sold 13,000 shares of the company's stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $48.30, for a total value of $627,900.00. Following the completion of the transaction, the chief executive officer now owns 1,083,444 shares of the company's stock, valued at $52,330,345.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,431 shares of company stock worth $6,356,622. 3.10% of the stock is currently 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.