Victory Capital Management Inc. raised its position in shares of The AZEK Company Inc. (NYSE: AZEK – Get Rating) by 21.0% in the first quarter, HoldingsChannel.com reports. The company held 860,995 shares of the company after purchasing an additional 149,616 shares during the period. Victory Capital Management Inc.’s holdings in AZEK were worth $21,260,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently increased or reduced their stakes in AZEK. Massachusetts Financial Services Co. MA increased its stake in AZEK by 20.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,906,687 shares of the company valued at $319,365,000 after purchasing an additional 1,149,893 shares in the last quarter. Phoenix Holdings Ltd. bought a new position in AZEK during Q4 worth $36,871,000. Segall Bryant & Hamill LLC increased its stake in AZEK by 466.8% during the 4th quarter. Segall Bryant & Hamill LLC now owns 880,446 shares of the company valued at $40,702,000 after purchasing an additional 725,108 shares last quarter. Marshall Wace LLP increased its stake in AZEK by 839.0% during the 4th quarter. Marshall Wace LLP now owns 742,536 shares of the company valued at $34,335,000 after purchasing an additional 663,460 shares last quarter. Finally, Atika Capital Management LLC bought a new position in AZEK during the 4th quarter at a value of $21,271,000. 96.53% of the shares are held by institutional investors.
AZEK Price Performance
NYSE:AZEK shares opened at $20.41 on Friday. The company has a current ratio of 3.00, a quick ratio of 1.28 and a debt ratio of 0.34. AZEK Inc. has a 1-year low of $15.52 and a 1-year high of $46.56. The company has a fifty-day simple moving average of $19.14 and a 200-day simple moving average of $23.52. The company has a market capitalization of $3.16 billion, a price/earnings ratio of 27.96, a P/E/G ratio of 1.46 and a beta of 1.89.
AZEK (NYSE:AZEK – Get Rating) last reported quarterly earnings data on Tuesday, May 10. The company reported earnings per share (EPS) of $0.32 for the quarter, beating the consensus estimate of $0.30 by $0.02. AZEK had a return on equity of 11.08% and a net margin of 8.49%. The company posted revenue of $396.26 million in the quarter, versus analyst estimates of $368.06 million. During the same period last year, the company earned earnings per share of $0.22. AZEK’s quarterly revenue increased 35.2% compared to the same quarter last year. As a group, sell-side analysts expect The AZEK Company Inc. to post earnings per share of 0.97 for the current fiscal year.
Wall Street analysts predict growth
AZEK has been the subject of a number of research reports. Zelman & Associates downgraded AZEK from a “hold” rating to a “buy” rating in a Wednesday, May 11 research note. Bank of America upgraded AZEK from a “neutral” rating to a “buy” rating and reduced its price target for the company from $23.00 to $22.00 in a Friday, June 17 research report. Barclays cut its price target on AZEK from $29.00 to $28.00 and set an “overweight” rating for the company in a research report Thursday, July 14. Stephens set a $20.00 price target on AZEK in a Monday, June 20 research report. Finally, B. Riley reduced his price target on AZEK from $35.00 to $29.00 in a Thursday, May 12 research report. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating for the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.80.
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The AZEK Company Inc engages in the design, manufacture and sale of building products for the residential, commercial and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered exterior products, which include decking, railing, trim and moldings, and accessories under the TimberTech, AZEK Exteriors, VERSATEX and ULTRALOX brands.
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