The AZEK Company Inc. (NYSE:AZEK) Stock Position Lifted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 1,280.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,116,458 shares of the company’s stock after purchasing an additional 1,035,610 shares during the quarter. Assenagon Asset Management S.A. owned about 0.78% of AZEK worth $54,584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC acquired a new position in AZEK during the 4th quarter valued at about $27,000. FIL Ltd bought a new position in shares of AZEK in the fourth quarter valued at approximately $28,000. NBC Securities Inc. acquired a new position in shares of AZEK during the first quarter valued at approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings 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 in the last quarter. Finally, Parallel Advisors LLC lifted its position in AZEK by 261.4% in the first quarter. Parallel Advisors LLC now owns 683 shares of the company’s stock worth $33,000 after purchasing an additional 494 shares during the period. 97.44% of the stock is currently owned by institutional investors.

AZEK Stock Performance

AZEK stock opened at $54.25 on Thursday. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The firm’s 50 day simple moving average is $49.38 and its 200-day simple moving average is $48.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The company has a market cap of $7.80 billion, a P/E ratio of 54.80, a price-to-earnings-growth ratio of 1.91 and a beta of 1.82.

AZEK (NYSE:AZEK) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The firm had revenue of $452.23 million during the quarter, compared to analyst estimates of $444.75 million. During the same quarter last year, the business posted $0.39 EPS. The company’s revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts predict that The AZEK Company Inc. will post 1.34 EPS for the current year.

Insider Activity at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $51.40, for a total value of $1,028,000.00. Following the completion of the sale, the chief executive officer now owns 852,765 shares in the company, valued at $43,832,121. This represents a 2.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AZEK shares. Wolfe Research reiterated a “peer perform” rating on shares of AZEK in a research report on Wednesday, March 26th. Stephens lowered their target price on AZEK from $58.00 to $53.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. 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 price objective (down previously from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Finally, Baird R W downgraded shares of AZEK from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $53.93.

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.