Wasatch Advisors LP Has $98.93 Million Stake in The AZEK Company Inc. (NYSE:AZEK)

Wasatch Advisors LP increased its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 11.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,084,014 shares of the company’s stock after purchasing an additional 216,849 shares during the period. Wasatch Advisors LP’s holdings in AZEK were worth $98,928,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC acquired a new stake in AZEK during the 4th quarter worth approximately $27,000. FIL Ltd acquired a new stake in shares of AZEK during the fourth quarter worth $28,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of AZEK by 623.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock valued at $33,000 after acquiring an additional 592 shares in the last quarter. Avalon Trust Co bought a new position in AZEK during the fourth quarter worth about $38,000. Finally, GAMMA Investing LLC boosted its holdings in AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after purchasing an additional 239 shares during the period. Institutional investors own 97.44% of the company’s stock.

Insider Activity at AZEK

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $41.03, for a total value of $615,450.00. Following the sale, the chief executive officer now directly owns 868,765 shares in the company, valued at $35,645,427.95. This represents a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

AZEK has been the subject of several analyst reports. Raymond James set a $51.50 price objective on AZEK in a report on Tuesday, March 25th. Robert W. Baird reiterated a “neutral” rating and set a $53.00 price objective (down from $58.00) on shares of AZEK in a research note on Monday, March 24th. William Blair restated a “market perform” rating on shares of AZEK in a research report on Monday, March 24th. Baird R W cut shares of AZEK from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Citigroup restated a “neutral” rating and set a $51.50 target price (down from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, AZEK currently has a consensus rating of “Hold” and a consensus target price of $53.40.

AZEK Price Performance

Shares of NYSE AZEK opened at $46.66 on Wednesday. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The company has a market capitalization of $6.70 billion, a PE ratio of 47.14, a PEG ratio of 1.91 and a beta of 1.86. The stock’s 50 day moving average price is $46.23 and its 200-day moving average price is $47.55. 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 earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts anticipate that The AZEK Company Inc. will post 1.34 EPS for the current 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.