Rafferty Asset Management LLC Purchases 9,263 Shares of The AZEK Company Inc. (NYSE:AZEK)

Rafferty Asset Management LLC raised its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 28.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 42,021 shares of the company’s stock after acquiring an additional 9,263 shares during the period. Rafferty Asset Management LLC’s holdings in AZEK were worth $1,995,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Empowered Funds LLC bought a new stake in AZEK during the 4th quarter valued at approximately $27,000. FIL Ltd bought a new stake in shares of AZEK in the 4th quarter worth approximately $28,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of AZEK by 623.2% in the 4th 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 in the last quarter. Avalon Trust Co bought a new stake in shares of AZEK in the 4th quarter worth approximately $38,000. Finally, Blue Trust Inc. boosted its position in shares of AZEK by 94.2% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock worth $85,000 after purchasing an additional 877 shares in the last quarter. 97.44% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 852,765 shares of the company’s stock, valued at approximately $43,832,121. This trade represents a 2.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AZEK. Barclays boosted their price target on AZEK from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Stephens dropped their price target on AZEK from $58.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 8th. BMO Capital Markets boosted their price target on AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a research report on Monday, March 24th. Robert W. Baird boosted their price target on AZEK from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Finally, UBS Group dropped their price target on AZEK from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $53.93.

AZEK Price Performance

NYSE AZEK opened at $50.82 on Wednesday. The business’s fifty day moving average price is $47.73 and its 200-day moving average price is $48.46. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 51.33, a PEG ratio of 1.91 and a beta of 1.86. 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 AZEK Company Inc. has a 1-year low of $35.48 and a 1-year high of $54.91.

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