FIL Ltd Invests $28,000 in The AZEK Company Inc. (NYSE:AZEK)

FIL Ltd bought a new stake in The AZEK Company Inc. (NYSE:AZEK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 600 shares of the company’s stock, valued at approximately $28,000.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of AZEK by 80.7% in the fourth quarter. FMR LLC now owns 12,311,577 shares of the company’s stock worth $584,431,000 after purchasing an additional 5,499,986 shares in the last quarter. Norges Bank bought a new position in AZEK in the 4th quarter valued at about $94,987,000. Arrowstreet Capital Limited Partnership grew its position in AZEK by 72.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company’s stock valued at $92,903,000 after buying an additional 823,588 shares in the last quarter. Alliancebernstein L.P. increased its stake in AZEK by 15.0% during the 4th quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company’s stock valued at $156,396,000 after buying an additional 429,574 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of AZEK during the 4th quarter worth about $19,436,000. Institutional investors own 97.44% of the company’s stock.

Wall Street Analysts Forecast Growth

AZEK has been the subject of several recent analyst reports. Raymond James set a $51.50 price objective on shares of AZEK in a report on Tuesday, March 25th. Robert W. Baird reiterated a “neutral” rating and set a $53.00 price target (down from $58.00) on shares of AZEK in a research report on Monday, March 24th. Wolfe Research restated a “peer perform” rating on shares of AZEK in a report on Wednesday, March 26th. BMO Capital Markets lifted their target price on AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, March 24th. Finally, Barclays cut their price target on shares of AZEK from $64.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $53.40.

Insiders Place Their Bets

In related news, CEO Jesse G. Singh sold 20,387 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the transaction, the chief executive officer now owns 883,765 shares of the company’s stock, valued at approximately $44,258,951.20. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.20% of the company’s stock.

AZEK Stock Performance

Shares of NYSE AZEK opened at $47.33 on Tuesday. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91. The business’s 50-day moving average price is $46.32 and its two-hundred day moving average price is $47.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The company has a market capitalization of $6.80 billion, a P/E ratio of 47.81, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86.

AZEK (NYSE:AZEK) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating 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%. Analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal 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.