The AZEK Company Inc. (NYSE:AZEK) Stake Boosted by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 0.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,330,876 shares of the company’s stock after purchasing an additional 240 shares during the quarter. Geode Capital Management LLC owned 1.63% of AZEK worth $110,683,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in AZEK during the fourth quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in AZEK by 623.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock worth $33,000 after buying an additional 592 shares during the period. Avalon Trust Co acquired a new stake in AZEK in the fourth quarter worth $38,000. GAMMA Investing LLC increased its position in AZEK by 39.1% in the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after buying an additional 239 shares during the period. Finally, Blue Trust Inc. increased its position in AZEK by 94.2% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock worth $85,000 after buying an additional 877 shares during the period. 97.44% of the stock is currently owned by institutional investors.

Insider Activity at AZEK

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $41.03, for a total transaction of $615,450.00. Following the completion of the sale, the chief executive officer now directly owns 868,765 shares in the company, valued at approximately $35,645,427.95. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 55,000 shares of company stock worth $2,518,624 in the last quarter. 3.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AZEK. Stephens lowered AZEK from an “overweight” rating to a “mixed” rating in a research report on Monday, March 24th. Barclays dropped their target price on AZEK from $64.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday. Citigroup reaffirmed a “neutral” rating and issued a $51.50 target price (down from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Baird R W lowered AZEK from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, The Goldman Sachs Group raised their price target on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $53.40.

AZEK Price Performance

NYSE:AZEK opened at $47.43 on Thursday. The business’s 50-day moving average price is $46.55 and its 200 day moving average price is $47.53. The firm has a market cap of $6.81 billion, a P/E ratio of 47.91, a PEG 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) last released its quarterly earnings results 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 return on equity of 13.47% and a net margin of 9.85%. As a group, sell-side analysts predict that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

About AZEK

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.