Bank of Montreal Can Sells 189,558 Shares of The AZEK Company Inc. (NYSE:AZEK)

Bank of Montreal Can cut its position in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 96.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,803 shares of the company's stock after selling 189,558 shares during the quarter. Bank of Montreal Can's holdings in AZEK were worth $323,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AZEK. Barclays PLC grew its holdings in shares of AZEK by 96.0% during the third quarter. Barclays PLC now owns 191,588 shares of the company's stock worth $8,966,000 after purchasing an additional 93,819 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of AZEK by 97.8% during the third quarter. Sanctuary Advisors LLC now owns 11,229 shares of the company's stock worth $572,000 after purchasing an additional 5,553 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of AZEK by 69.8% during the third quarter. Tidal Investments LLC now owns 10,587 shares of the company's stock worth $495,000 after purchasing an additional 4,352 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of AZEK by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company's stock worth $93,564,000 after purchasing an additional 90,206 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of AZEK by 39.1% in the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company's stock worth $40,000 after acquiring an additional 239 shares during the period. 97.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on AZEK shares. BMO Capital Markets lifted their price objective on AZEK from $54.00 to $57.00 and gave the stock a "market perform" rating in a research note on Monday, March 24th. Stephens lowered AZEK from an "overweight" rating to a "mixed" rating in a research note on Monday, March 24th. Loop Capital cut their price objective on AZEK from $55.00 to $49.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Barclays cut their price objective on AZEK from $64.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Baird R W lowered AZEK from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $53.53.

AZEK Stock Down 0.5 %

Shares of NYSE:AZEK traded down $0.23 during trading on Tuesday, reaching $48.94. 152,095 shares of the stock were exchanged, compared to its average volume of 2,204,985. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The AZEK Company Inc. has a 1-year low of $35.48 and a 1-year high of $54.91. The stock has a fifty day moving average of $45.82 and a two-hundred day moving average of $47.75. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of 49.43, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86.

AZEK (NYSE:AZEK - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. Research analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 15,000 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $41.03, for a total transaction of $615,450.00. Following the completion of the sale, the chief executive officer now owns 868,765 shares in the company, valued at approximately $35,645,427.95. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.20% of the stock is currently owned by corporate 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.