Point72 Asset Management L.P. Buys 119,173 Shares of The AZEK Company Inc. (NYSE:AZEK)

Point72 Asset Management L.P. boosted its position in The AZEK Company Inc. (NYSE:AZEK) by 51.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 351,074 shares of the company’s stock after purchasing an additional 119,173 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.25% of AZEK worth $16,665,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Empowered Funds LLC purchased a new position in shares of AZEK in the 4th quarter worth approximately $27,000. FIL Ltd purchased a new position in AZEK in the fourth quarter worth $28,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of 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. Avalon Trust Co acquired a new position in shares of AZEK during the fourth quarter worth $38,000. Finally, Blue Trust Inc. lifted its holdings in shares of AZEK by 94.2% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock valued at $85,000 after purchasing an additional 877 shares during the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on AZEK. Loop Capital dropped their target price on AZEK from $55.00 to $49.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. UBS Group lowered their price target on AZEK from $55.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Barclays upped their price objective on shares of AZEK from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. BMO Capital Markets increased their price objective on shares of AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, March 24th. Finally, Baird R W downgraded shares of AZEK from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.93.

AZEK Price Performance

Shares of AZEK opened at $51.19 on Friday. The business’s 50-day moving average is $47.29 and its two-hundred day moving average is $48.37. 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 fifty-two week low of $35.48 and a fifty-two week high of $54.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56.

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

Insider Activity

In related news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 852,765 shares in the company, valued at $43,832,121. The trade was a 2.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.20% of the company’s stock.

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.