Pier Capital LLC Lowers Holdings in The AZEK Company Inc. (NYSE:AZEK)

Pier Capital LLC reduced its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 2.7% during the 4th quarter, HoldingsChannel reports. The firm owned 110,797 shares of the company’s stock after selling 3,073 shares during the period. Pier Capital LLC’s holdings in AZEK were worth $5,260,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AZEK. Empowered Funds LLC bought a new position in shares of AZEK during the 4th quarter worth $27,000. Avalon Trust Co bought a new position in AZEK during the 4th quarter worth about $38,000. GAMMA Investing LLC increased its position in AZEK by 39.1% during the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after purchasing an additional 239 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in AZEK during the 3rd quarter valued at about $59,000. Finally, Millburn Ridgefield Corp purchased a new stake in shares of AZEK in the 3rd quarter worth approximately $84,000. 97.44% of the stock is owned by institutional investors.

AZEK Stock Up 17.6 %

NYSE:AZEK opened at $48.67 on Tuesday. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The company has a market cap of $6.99 billion, a PE ratio of 49.16, a P/E/G ratio of 1.91 and a beta of 1.95. The company’s 50 day moving average is $47.39 and its two-hundred day moving average is $47.23.

AZEK (NYSE:AZEK) last announced its quarterly earnings data 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%. Analysts anticipate that The AZEK Company Inc. will post 1.34 EPS for the current year.

Insider Buying and Selling at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,387 shares of AZEK stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the completion of the sale, the chief executive officer now directly owns 883,765 shares in the company, valued at approximately $44,258,951.20. The trade was a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 55,000 shares of company stock worth $2,518,624. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. William Blair reissued a “market perform” rating on shares of AZEK in a report on Monday. Barclays lifted their price target on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. The Goldman Sachs Group boosted their price target on AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $53.00 price objective (down previously from $58.00) on shares of AZEK in a research report on Monday. Finally, Stephens reiterated an “equal weight” rating and issued a $58.00 target price on shares of AZEK in a report on Monday. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.93.

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.