Investment House LLC reduced its holdings in shares of The AZEK Company Inc. (NYSE:AZEK – Get Rating) by 48.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,925 shares of the company’s stock after selling 38,600 shares during the quarter. Investment House LLC’s holdings in AZEK were worth $680,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of AZEK during the third quarter worth about $231,000. EFG Asset Management North America Corp. lifted its holdings in shares of AZEK by 14.5% during the third quarter. EFG Asset Management North America Corp. now owns 35,984 shares of the company’s stock worth $598,000 after purchasing an additional 4,556 shares during the period. Synovus Financial Corp bought a new stake in shares of AZEK in the third quarter worth $283,000. Walter Public Investments Inc. raised its position in AZEK by 35.9% during the 3rd quarter. Walter Public Investments Inc. now owns 298,648 shares of the company’s stock worth $4,964,000 after purchasing an additional 78,822 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of AZEK by 13.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,315,275 shares of the company’s stock valued at $38,479,000 after buying an additional 278,965 shares during the last quarter. 99.05% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on AZEK. The Goldman Sachs Group raised their price objective on AZEK from $21.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America cut their price target on shares of AZEK from $23.00 to $21.00 in a research report on Tuesday, October 18th. Deutsche Bank Aktiengesellschaft lifted their target price on AZEK from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays increased their target price on shares of AZEK from $23.00 to $28.00 in a research note on Wednesday, December 14th. Finally, UBS Group downgraded shares of AZEK from a “buy” rating to a “neutral” rating and set a $24.00 price target for the company. in a research note on Thursday, January 5th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.94.
AZEK Stock Performance
Shares of AZEK stock opened at $22.86 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.91 and a quick ratio of 1.26. The firm has a 50-day moving average of $19.95 and a 200-day moving average of $18.94. The AZEK Company Inc. has a one year low of $15.12 and a one year high of $44.31. The company has a market cap of $3.45 billion, a P/E ratio of 46.65, a P/E/G ratio of 4.74 and a beta of 1.57.
AZEK (NYSE:AZEK – Get Rating) last posted its quarterly earnings data on Monday, November 28th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). AZEK had a net margin of 5.55% and a return on equity of 9.85%. The firm had revenue of $304.63 million during the quarter, compared to analysts’ expectations of $288.91 million. During the same quarter last year, the business posted $0.31 EPS. The company’s quarterly revenue was down 12.0% on a year-over-year basis. Equities research analysts forecast that The AZEK Company Inc. will post 0.49 EPS for the current fiscal year.
The AZEK Company Inc engages in designing, manufacturing, and selling of building products for residential, commercial, and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, which includes decking, railing, trim and molding, siding and cladding, pergolas and cabanas, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.
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