Capital Research Global Investors lessened its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 17.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,241,058 shares of the company's stock after selling 883,971 shares during the quarter. Capital Research Global Investors owned 2.97% of AZEK worth $201,323,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Stifel Financial Corp lifted its stake in AZEK by 24.7% in the third quarter. Stifel Financial Corp now owns 22,481 shares of the company's stock worth $1,052,000 after acquiring an additional 4,454 shares during the last quarter. Barclays PLC lifted its position in shares of AZEK by 96.0% during the 3rd 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 stake 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 in the last quarter. Tidal Investments LLC increased its holdings in AZEK by 69.8% in the third quarter. Tidal Investments LLC now owns 10,587 shares of the company's stock valued at $495,000 after buying an additional 4,352 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in AZEK by 4.7% in the third quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company's stock valued at $93,564,000 after buying an additional 90,206 shares in the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $41.03, for a total transaction of $615,450.00. Following the transaction, the chief executive officer now directly 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 company insiders.
Analyst Upgrades and Downgrades
AZEK has been the topic of a number of recent analyst reports. Wolfe Research reiterated a "peer perform" rating on shares of AZEK in a report on Wednesday, March 26th. Stephens lowered shares of AZEK from an "overweight" rating to a "mixed" rating in a research note on Monday, March 24th. William Blair restated a "market perform" rating on shares of AZEK in a research report on Monday, March 24th. Robert W. Baird reaffirmed a "neutral" rating and issued a $53.00 target price (down from $58.00) on shares of AZEK in a research report on Monday, March 24th. Finally, Loop Capital reduced their price target on shares of AZEK from $55.00 to $49.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, AZEK currently has an average rating of "Hold" and a consensus price target of $53.53.
Get Our Latest Research Report on AZEK
AZEK Stock Performance
Shares of AZEK stock traded down $0.08 during midday trading on Friday, hitting $49.41. The company had a trading volume of 967,200 shares, compared to its average volume of 2,203,695. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 49.91, a PEG ratio of 1.91 and a beta of 1.86. 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 company's 50 day simple moving average is $45.83 and its 200 day simple moving average is $47.66. The AZEK Company Inc. has a 52-week low of $35.48 and a 52-week high of $54.91.
AZEK (NYSE:AZEK - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Research analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.
AZEK Profile
(
Free Report)
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.
Further Reading
Before you consider AZEK, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AZEK wasn't on the list.
While AZEK currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
