Cannon Global Investment Management LLC Makes New $451,000 Investment in The AZEK Company Inc. (NYSE:AZEK)

Cannon Global Investment Management LLC acquired a new position in shares of The AZEK Company Inc. (NYSE:AZEK) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 9,500 shares of the company’s stock, valued at approximately $451,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of AZEK by 33.8% in the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after acquiring an additional 3,595,863 shares in the last quarter. FMR LLC raised its stake in AZEK by 57.9% during the third quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after acquiring an additional 2,497,074 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in AZEK by 73.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,006,253 shares of the company’s stock valued at $47,093,000 after buying an additional 425,609 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of AZEK during the fourth quarter valued at approximately $19,436,000. Finally, Gradient Investments LLC raised its stake in AZEK by 834.9% during the 4th quarter. Gradient Investments LLC now owns 410,233 shares of the company’s stock valued at $19,474,000 after acquiring an additional 366,352 shares in the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AZEK news, CEO Jesse G. Singh sold 19,613 shares of AZEK stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $44.98, for a total value of $882,192.74. Following the sale, the chief executive officer now owns 904,152 shares of the company’s stock, valued at $40,668,756.96. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders have sold 55,000 shares of company stock worth $2,518,624. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on AZEK shares. Barclays boosted their target price on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. BMO Capital Markets lifted their price objective on shares of AZEK from $52.00 to $54.00 and gave the stock a “market perform” rating in a research report on Thursday, February 6th. The Goldman Sachs Group boosted their price objective on shares of AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. boosted their target price on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, Royal Bank of Canada boosted their target price on shares of AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.85.

AZEK Stock Performance

AZEK stock opened at $41.39 on Monday. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The business’s fifty day moving average is $47.32 and its 200-day moving average is $47.18. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The company has a market cap of $5.95 billion, a P/E ratio of 41.80, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK) last posted its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping 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%. Equities research analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current year.

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.