Truist Financial Corp Increases Position in The AZEK Company Inc. (NYSE:AZEK)

Truist Financial Corp lifted its holdings in The AZEK Company Inc. (NYSE:AZEKGet Rating) by 45.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 41,727 shares of the company’s stock after acquiring an additional 13,112 shares during the quarter. Truist Financial Corp’s holdings in AZEK were worth $694,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Peregrine Capital Management LLC boosted its stake in shares of AZEK by 19.9% in the 3rd quarter. Peregrine Capital Management LLC now owns 972,478 shares of the company’s stock worth $16,163,000 after buying an additional 161,566 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of AZEK by 76.0% in the 3rd quarter. Fifth Third Bancorp now owns 21,138 shares of the company’s stock worth $351,000 after buying an additional 9,125 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of AZEK by 0.7% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 667,545 shares of the company’s stock worth $11,095,000 after buying an additional 4,915 shares during the last quarter. Raymond James & Associates boosted its stake in shares of AZEK by 6.1% in the 3rd quarter. Raymond James & Associates now owns 31,506 shares of the company’s stock worth $524,000 after buying an additional 1,810 shares during the last quarter. Finally, Shufro Rose & Co. LLC purchased a new position in shares of AZEK in the 3rd quarter worth approximately $256,000. Hedge funds and other institutional investors own 99.05% of the company’s stock.

AZEK Trading Up 3.7 %

AZEK stock opened at $23.50 on Friday. The stock has a market cap of $3.55 billion, a P/E ratio of 47.96, a PEG ratio of 5.24 and a beta of 1.57. The AZEK Company Inc. has a fifty-two week low of $15.12 and a fifty-two week high of $35.51. The firm’s fifty day moving average price is $20.61 and its 200-day moving average price is $19.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.26 and a current ratio of 2.91.

AZEK (NYSE:AZEKGet Rating) last announced its earnings results on Monday, November 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. AZEK had a net margin of 5.55% and a return on equity of 9.85%. The company had revenue of $304.63 million during the quarter, compared to analyst estimates of $288.91 million. During the same period in the previous year, the business earned $0.31 earnings per share. The firm’s quarterly revenue was down 12.0% compared to the same quarter last year. Equities research analysts forecast that The AZEK Company Inc. will post 0.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AZEK shares. TheStreet raised shares of AZEK from a “d+” rating to a “c” rating in a report on Thursday, December 29th. B. Riley lowered their price target on shares of AZEK from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Jefferies Financial Group lowered their price target on shares of AZEK from $25.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, November 29th. Citigroup cut shares of AZEK from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $21.00 to $23.00 in a report on Tuesday, January 10th. Finally, Bank of America lowered their price target on shares of AZEK from $23.00 to $21.00 in a report on Tuesday, October 18th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.94.

AZEK Company Profile

(Get Rating)

The AZEK Company Inc engages in designing, manufacturing, and selling of 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 molding, siding and cladding, pergolas and cabanas, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.

See Also

Want to see what other hedge funds are holding AZEK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The AZEK Company Inc. (NYSE:AZEKGet Rating).

Institutional Ownership by Quarter for AZEK (NYSE:AZEK)

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.