Verition Fund Management LLC Purchases 48,021 Shares of The AZEK Company Inc. (NYSE:AZEK)

Verition Fund Management LLC lifted its position in The AZEK Company Inc. (NYSE:AZEKGet Rating) by 151.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 79,682 shares of the company’s stock after purchasing an additional 48,021 shares during the quarter. Verition Fund Management LLC’s holdings in AZEK were worth $1,979,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AZEK. Vanguard Group Inc. grew its holdings in AZEK by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,864,331 shares of the company’s stock worth $245,031,000 after acquiring an additional 98,704 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of AZEK by 14.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,930,112 shares of the company’s stock worth $196,985,000 after acquiring an additional 1,023,425 shares in the last quarter. Eaton Vance Management grew its stake 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 worth $151,977,000 after acquiring an additional 10,691 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of AZEK by 9.4% in the fourth 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. Finally, Goldman Sachs Group Inc. grew its stake in shares of AZEK by 0.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,507,783 shares of the company’s stock valued at $62,293,000 after buying an additional 15,900 shares in the last quarter. Institutional investors own 96.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Truist Financial cut their price target on AZEK from $34.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, June 16th. Stephens lifted their target price on AZEK from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, August 8th. Bank of America upgraded 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. Wedbush cut AZEK from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $24.00 to $21.00 in a report on Monday, August 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on AZEK in a research note on Wednesday, August 17th. They issued a “buy” rating and a $29.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, AZEK currently has an average rating of “Moderate Buy” and a consensus target price of $28.13.

AZEK Trading Down 0.9 %

Shares of AZEK stock opened at $17.96 on Monday. The stock has a fifty day simple moving average of $19.58 and a 200 day simple moving average of $20.91. The AZEK Company Inc. has a 12-month low of $15.52 and a 12-month high of $46.56. The company has a market capitalization of $2.78 billion, a P/E ratio of 23.32, a price-to-earnings-growth ratio of 2.24 and a beta of 1.89. The company has a current ratio of 2.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.40.

AZEK (NYSE:AZEKGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The firm had revenue of $395.00 million during the quarter, compared to the consensus estimate of $385.73 million. AZEK had a return on equity of 11.59% and a net margin of 8.49%. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 EPS. On average, sell-side analysts anticipate that The AZEK Company Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at AZEK

In other AZEK news, Director Vernon J. Nagel acquired 3,000 shares of AZEK stock in a transaction on Monday, August 29th. The stock was purchased at an average price of $18.52 per share, for a total transaction of $55,560.00. Following the purchase, the director now directly owns 27,029 shares of the company’s stock, valued at $500,577.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.20% of the company’s stock.

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.

See Also

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Institutional Ownership by Quarter for AZEK (NYSE:AZEK)

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