State of New Jersey Common Pension Fund D Boosts Holdings in The AZEK Company Inc. (NYSE:AZEK)

State of New Jersey Common Pension Fund D boosted its position in The AZEK Company Inc. (NYSE:AZEKGet Rating) by 34.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,432 shares of the company’s stock after purchasing an additional 23,278 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of AZEK worth $2,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its position in shares of AZEK by 20.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,906,687 shares of the company’s stock valued at $319,365,000 after buying an additional 1,149,893 shares in the last quarter. Eaton Vance Management raised 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 buying an additional 10,691 shares in the last quarter. Alliancebernstein L.P. raised 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 buying an additional 257,410 shares in the last quarter. Goldman Sachs Group Inc. raised 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 buying an additional 148,205 shares in the last quarter. Finally, Summit Partners Public Asset Management LLC raised 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 buying an additional 4,076 shares in the last quarter. 96.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AZEK shares. JPMorgan Chase & Co. lowered their price objective on shares of AZEK from $27.00 to $24.00 in a research report on Friday, July 15th. Citigroup reduced their target price on shares of AZEK from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, June 17th. Bank of America raised shares of AZEK from a “neutral” rating to a “buy” rating and reduced their target price for the company from $23.00 to $22.00 in a report on Friday, June 17th. Robert W. Baird reduced their target price on shares of AZEK from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, June 16th. Finally, Loop Capital lowered shares of AZEK from a “buy” rating to a “hold” rating and reduced their target price for the company from $56.00 to $25.00 in a report on Monday, April 25th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, AZEK presently has an average rating of “Moderate Buy” and an average price target of $29.80.

AZEK Trading Up 0.1 %

Shares of AZEK opened at $20.35 on Thursday. The firm’s 50-day moving average price is $19.16 and its 200-day moving average price is $23.66. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 1.50 and a beta of 1.89. The company has a current ratio of 3.00, a quick ratio of 1.28 and a debt-to-equity ratio of 0.34. The AZEK Company Inc. has a 1-year low of $15.52 and a 1-year high of $46.56.

AZEK (NYSE:AZEKGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share (EPS) for the quarter, beating 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 company had revenue of $396.26 million during the quarter, compared to analysts’ expectations of $368.06 million. During the same period last year, the company posted $0.22 EPS. AZEK’s revenue was up 35.2% on a year-over-year basis. Sell-side analysts anticipate that The AZEK Company Inc. will post 0.97 EPS for the current year.

About AZEK

(Get Rating)

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.

Read More

Institutional Ownership by Quarter for AZEK (NYSE:AZEK)

Want More Great Investing Ideas?

Receive News & Ratings for AZEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AZEK and related companies with MarketBeat.com's FREE daily email newsletter.