Brown Advisory Inc. Reduces Stake in The AZEK Company Inc. (NYSE:AZEK)

Brown Advisory Inc. lowered its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 424,360 shares of the company's stock after selling 52,343 shares during the period. Brown Advisory Inc. owned 0.30% of AZEK worth $20,144,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays lifted their price target on AZEK from $53.00 to $57.00 and gave the company an "overweight" rating in a research report on Thursday. Raymond James set a $51.50 target price on AZEK in a report on Tuesday, March 25th. Wolfe Research reissued a "peer perform" rating on shares of AZEK in a report on Wednesday, March 26th. BMO Capital Markets boosted their price objective on shares of AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a research note on Monday, March 24th. Finally, Robert W. Baird increased their target price on shares of AZEK from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, AZEK has a consensus rating of "Hold" and an average target price of $53.93.

AZEK Price Performance

Shares of NYSE AZEK traded up $0.45 during trading hours on Friday, reaching $50.33. 979,894 shares of the stock traded hands, compared to its average volume of 2,214,080. The company's 50-day simple moving average is $46.43 and its two-hundred day simple moving average is $48.05. The company has a market capitalization of $7.23 billion, a P/E ratio of 50.84, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a 52-week low of $35.48 and a 52-week high of $54.91. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31.

AZEK (NYSE:AZEK - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The firm had revenue of $452.23 million for the quarter, compared to the consensus estimate of $444.75 million. During the same period last year, the firm posted $0.39 earnings per share. The business's revenue was up 8.1% compared to the same quarter last year. Equities research analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current year.

Insider Activity

In other news, CEO Jesse G. Singh sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $41.03, for a total value of $615,450.00. Following the transaction, the chief executive officer now owns 868,765 shares in the company, valued at approximately $35,645,427.95. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.20% 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.