Tabor Asset Management LP Purchases New Holdings in The AZEK Company Inc. (NYSE:AZEK)

Tabor Asset Management LP purchased a new position in shares of The AZEK Company Inc. (NYSE:AZEK) during the fourth quarter, Holdings Channel reports. The firm purchased 48,227 shares of the company’s stock, valued at approximately $2,289,000.

A number of other hedge funds have also recently added to or reduced their stakes in AZEK. Empowered Funds LLC bought a new stake in shares of AZEK during the 4th quarter valued at $27,000. FIL Ltd acquired a new position in AZEK in the fourth quarter valued at about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in AZEK by 623.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock worth $33,000 after purchasing an additional 592 shares during the period. Avalon Trust Co acquired a new stake in AZEK during the fourth quarter worth about $38,000. Finally, Blue Trust Inc. increased its holdings in AZEK by 94.2% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock valued at $85,000 after buying an additional 877 shares during the period. Institutional investors own 97.44% of the company’s stock.

AZEK Stock Performance

AZEK stock opened at $51.19 on Monday. The business has a 50 day moving average of $47.29 and a 200-day moving average of $48.40. The company has a market capitalization of $7.35 billion, a P/E ratio of 51.71, a P/E/G ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a 1 year low of $35.48 and a 1 year high of $54.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

AZEK (NYSE:AZEK) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $452.23 million during the quarter, compared to analysts’ expectations of $444.75 million. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. On average, equities research analysts predict that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the sale, the chief executive officer now directly owns 852,765 shares in the company, valued at $43,832,121. This represents a 2.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Loop Capital cut their price target on shares of AZEK from $55.00 to $49.00 and set a “hold” rating for the company in a report on Thursday, April 17th. 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. UBS Group reduced their target price on AZEK from $55.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Stephens lowered their price target on AZEK from $58.00 to $53.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. Finally, William Blair reaffirmed a “market perform” rating on shares of AZEK in a research note on Monday, March 24th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $53.93.

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.