Fred Alger Management LLC Raises Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Fred Alger Management LLC increased its position in The AZEK Company Inc. (NYSE:AZEK) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,742 shares of the company’s stock after purchasing an additional 3,573 shares during the quarter. Fred Alger Management LLC’s holdings in AZEK were worth $3,358,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its stake in shares of AZEK by 22.0% during the third quarter. Rockefeller Capital Management L.P. now owns 426,785 shares of the company’s stock valued at $19,974,000 after buying an additional 77,040 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in AZEK by 105.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,798 shares of the company’s stock worth $2,845,000 after acquiring an additional 31,193 shares in the last quarter. FORA Capital LLC purchased a new position in AZEK during the 3rd quarter valued at about $1,363,000. Townsquare Capital LLC raised its holdings in shares of AZEK by 11.0% in the 3rd quarter. Townsquare Capital LLC now owns 77,507 shares of the company’s stock valued at $3,627,000 after purchasing an additional 7,676 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of AZEK in the 3rd quarter worth approximately $801,000. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

AZEK Stock Up 1.6 %

AZEK stock opened at $53.12 on Friday. The business’s 50-day simple moving average is $46.12 and its two-hundred day simple moving average is $44.54. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 2.17. The company has a market cap of $7.60 billion, a PE ratio of 51.08, a PEG ratio of 2.30 and a beta of 1.88. The AZEK Company Inc. has a fifty-two week low of $33.14 and a fifty-two week high of $54.16.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AZEK. UBS Group reduced their price objective on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of AZEK in a research report on Thursday, November 21st. JPMorgan Chase & Co. raised their price objective on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. DA Davidson lifted their target price on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Finally, Loop Capital lowered shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target for the company. in a research report on Friday, October 4th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $49.82.

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.