Legato Capital Management LLC Invests $695,000 in The AZEK Company Inc. (NYSE:AZEK)

Legato Capital Management LLC acquired a new position in shares of The AZEK Company Inc. (NYSE:AZEK) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,650 shares of the company’s stock, valued at approximately $695,000.

Several other large investors also recently modified their holdings of AZEK. Empowered Funds LLC acquired a new stake in shares of AZEK during the fourth quarter worth $27,000. Farther Finance Advisors LLC grew its holdings in AZEK by 183.1% in the third quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock worth $35,000 after purchasing an additional 487 shares during the period. GAMMA Investing LLC grew its holdings in AZEK by 39.1% in the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after purchasing an additional 239 shares during the period. Blue Trust Inc. grew its holdings in AZEK by 106.4% in the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after purchasing an additional 480 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in AZEK in the third quarter worth $59,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AZEK

In related news, CMO Samara Toole sold 1,709 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $53.00, for a total transaction of $90,577.00. Following the completion of the sale, the chief marketing officer now owns 16,632 shares in the company, valued at approximately $881,496. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jesse G. Singh sold 20,387 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the sale, the chief executive officer now owns 883,765 shares of the company’s stock, valued at $44,258,951.20. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,709 shares of company stock valued at $3,060,151 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

AZEK Stock Up 1.8 %

AZEK opened at $49.95 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.14. The company’s 50-day moving average is $49.94 and its 200 day moving average is $46.57. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The firm has a market capitalization of $7.14 billion, a P/E ratio of 50.45, a PEG ratio of 2.19 and a beta of 1.94.

AZEK (NYSE:AZEK) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Research analysts expect that The AZEK Company Inc. will post 1.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on AZEK. Benchmark restated a “buy” rating and issued a $55.00 price target on shares of AZEK in a report on Thursday, November 21st. Robert W. Baird raised their price target on shares of AZEK from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. The Goldman Sachs Group raised their price target on shares of AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Royal Bank of Canada raised their price target on shares of AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, AZEK presently has an average rating of “Moderate Buy” and a consensus target price of $54.85.

AZEK 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.