Sciencast Management LP Purchases New Stake in The AZEK Company Inc. (NYSE:AZEK)

Sciencast Management LP acquired a new position in shares of The AZEK Company Inc. (NYSE:AZEK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 47,257 shares of the company’s stock, valued at approximately $2,243,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZEK. Empowered Funds LLC bought a new position in shares of AZEK during the 4th quarter worth $27,000. Avalon Trust Co purchased a new stake in AZEK during the fourth quarter valued at about $38,000. GAMMA Investing LLC boosted its position in AZEK by 39.1% during 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. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of AZEK in the third quarter worth about $59,000. Finally, Millburn Ridgefield Corp purchased a new position in shares of AZEK in the third quarter worth about $84,000. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

AZEK Trading Down 0.8 %

NYSE AZEK opened at $41.39 on Friday. The stock’s 50-day simple moving average is $47.32 and its two-hundred day simple moving average is $47.10. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK) last issued its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. Research analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $41.03, for a total transaction of $615,450.00. Following the transaction, the chief executive officer now directly owns 868,765 shares in the company, valued at $35,645,427.95. This trade represents a 1.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 55,000 shares of company stock worth $2,518,624 in the last 90 days. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AZEK has been the subject of several analyst reports. Citigroup raised shares of AZEK from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $51.00 to $60.00 in a report on Monday, January 6th. Robert W. Baird lifted their price target on AZEK from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Barclays raised their target price on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group increased 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. Finally, JPMorgan Chase & Co. boosted 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.85.

AZEK Company 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.