Benjamin F. Edwards & Company Inc. Reduces Position in The AZEK Company Inc. (NYSE:AZEK)

Benjamin F. Edwards & Company Inc. decreased its holdings in shares of The AZEK Company Inc. (NYSE:AZEKGet Rating) by 48.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,840 shares of the company’s stock after selling 1,724 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in AZEK were worth $46,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA grew its holdings in shares of AZEK by 20.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,906,687 shares of the company’s stock worth $319,365,000 after buying an additional 1,149,893 shares in the last quarter. Eaton Vance Management boosted its position in shares of AZEK by 0.3% during the 4th quarter. Eaton Vance Management now owns 3,289,190 shares of the company’s stock valued at $151,977,000 after acquiring an additional 10,691 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of AZEK by 9.4% during the 4th quarter. Alliancebernstein L.P. now owns 3,009,634 shares of the company’s stock valued at $139,165,000 after acquiring an additional 257,410 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of AZEK by 6.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,491,883 shares of the company’s stock valued at $115,225,000 after acquiring an additional 148,205 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC boosted its position in shares of AZEK by 0.3% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 1,393,448 shares of the company’s stock valued at $64,433,000 after acquiring an additional 4,076 shares during the last quarter. Hedge funds and other institutional investors own 96.53% of the company’s stock.

AZEK Stock Up 0.9 %

Shares of AZEK opened at $20.86 on Tuesday. The stock has a market capitalization of $3.23 billion, a PE ratio of 28.58, a P/E/G ratio of 1.49 and a beta of 1.89. The AZEK Company Inc. has a 1 year low of $15.52 and a 1 year high of $46.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.28 and a current ratio of 3.00. The company’s 50-day simple moving average is $19.10 and its 200-day simple moving average is $23.85.

AZEK (NYSE:AZEKGet Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. AZEK had a net margin of 8.49% and a return on equity of 11.08%. The firm had revenue of $396.26 million for the quarter, compared to analyst estimates of $368.06 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The business’s quarterly revenue was up 35.2% compared to the same quarter last year. Analysts forecast that The AZEK Company Inc. will post 0.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AZEK shares. Bank of America raised shares of AZEK from a “neutral” rating to a “buy” rating and lowered their price target for the company from $23.00 to $22.00 in a research report on Friday, June 17th. Robert W. Baird lowered their price target on shares of AZEK from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Thursday, June 16th. JPMorgan Chase & Co. decreased their target price on shares of AZEK from $27.00 to $24.00 in a research report on Friday, July 15th. Barclays decreased their target price on shares of AZEK from $29.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th. Finally, B. Riley decreased their target price on shares of AZEK from $35.00 to $29.00 in a research report on Thursday, May 12th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.80.

AZEK Company Profile

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The AZEK Company Inc engages in designing, manufacturing, and selling building products for residential, commercial, and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, which includes decking, railing, trim and moulding, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.

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Institutional Ownership by Quarter for AZEK (NYSE:AZEK)

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