The AZEK Company Inc. (NYSE:AZEK) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,693,137 shares of the company's stock after selling 32,466 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.18% of AZEK worth $80,375,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AZEK. GAMMA Investing LLC increased its position in AZEK by 39.1% during the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company's stock valued at $40,000 after purchasing an additional 239 shares during the period. Truist Financial Corp increased its holdings in AZEK by 1.6% during the fourth quarter. Truist Financial Corp now owns 16,706 shares of the company's stock valued at $793,000 after buying an additional 255 shares during the period. Investment House LLC raised its stake in AZEK by 0.7% in the fourth quarter. Investment House LLC now owns 39,255 shares of the company's stock worth $1,863,000 after buying an additional 290 shares in the last quarter. Federated Hermes Inc. lifted its holdings in AZEK by 4.8% during the fourth quarter. Federated Hermes Inc. now owns 6,984 shares of the company's stock worth $332,000 after buying an additional 318 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in AZEK by 13.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company's stock valued at $146,000 after acquiring an additional 352 shares in the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AZEK has been the subject of several recent research reports. Barclays reduced their price target on AZEK from $64.00 to $53.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. William Blair reissued a "market perform" rating on shares of AZEK in a research report on Monday, March 24th. Loop Capital lowered their price target on shares of AZEK from $55.00 to $49.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Citigroup reiterated a "neutral" rating and set a $51.50 price objective (down previously from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Finally, Stephens downgraded shares of AZEK from an "overweight" rating to a "mixed" rating in a research note on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, AZEK currently has a consensus rating of "Hold" and an average price target of $53.53.

AZEK Stock Performance

NYSE AZEK traded up $0.21 on Friday, hitting $49.98. 2,790,501 shares of the company's stock traded hands, compared to its average volume of 2,224,226. The firm's 50-day moving average price is $46.04 and its two-hundred day moving average price is $47.86. The firm has a market capitalization of $7.18 billion, a PE ratio of 50.48, a P/E/G ratio of 1.91 and a beta of 1.86. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The AZEK Company Inc. has a 1-year low of $35.48 and a 1-year high of $54.91.

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

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 20,387 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the sale, the chief executive officer now directly owns 883,765 shares of the company's stock, valued at $44,258,951.20. This represents a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.20% of the company's stock.

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.