Victory Capital Management Inc. Cuts Position in The AZEK Company Inc. (NYSE:AZEK)

Victory Capital Management Inc. lowered its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 15.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 639,729 shares of the company’s stock after selling 114,679 shares during the period. Victory Capital Management Inc. owned about 0.43% of AZEK worth $24,470,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Redwood Investments LLC acquired a new position in shares of AZEK during the 4th quarter worth $2,893,000. Lecap Asset Management Ltd. purchased a new stake in shares of AZEK in the fourth quarter valued at about $1,134,000. Sherbrooke Park Advisers LLC grew its position in shares of AZEK by 62.8% in the third quarter. Sherbrooke Park Advisers LLC now owns 42,923 shares of the company’s stock valued at $1,277,000 after purchasing an additional 16,565 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of AZEK by 7.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,012,414 shares of the company’s stock worth $386,989,000 after purchasing an additional 881,697 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of AZEK during the 3rd quarter worth approximately $1,731,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.

AZEK Trading Down 2.8 %

NYSE AZEK opened at $44.91 on Thursday. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 56.85, a PEG ratio of 1.50 and a beta of 1.93. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.67 and a current ratio of 2.99. The AZEK Company Inc. has a one year low of $23.08 and a one year high of $50.78. The company’s 50 day moving average price is $47.78 and its 200 day moving average price is $40.28.

AZEK (NYSE:AZEK) last issued its earnings results on Tuesday, February 6th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $240.44 million for the quarter, compared to the consensus estimate of $234.12 million. AZEK had a net margin of 8.57% and a return on equity of 9.61%. On average, sell-side analysts predict that The AZEK Company Inc. will post 1.03 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AZEK shares. Stephens boosted their price target on AZEK from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. TheStreet upgraded shares of AZEK from a “c+” rating to a “b-” rating in a report on Wednesday, January 31st. BMO Capital Markets upped their price objective on shares of AZEK from $39.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Barclays raised their target price on shares of AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Citigroup boosted their price target on AZEK from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.94.

Insider Buying and Selling

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $45.34, for a total value of $589,420.00. Following the transaction, the chief executive officer now directly owns 1,184,444 shares of the company’s stock, valued at $53,702,690.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Michelle A. Kasson sold 94,431 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $49.47, for a total transaction of $4,671,501.57. Following the transaction, the insider now directly owns 23,544 shares of the company’s stock, valued at $1,164,721.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.34, for a total transaction of $589,420.00. Following the sale, the chief executive officer now directly owns 1,184,444 shares of the company’s stock, valued at $53,702,690.96. The disclosure for this sale can be found here. In the last three months, insiders sold 130,431 shares of company stock valued at $6,356,622. Company insiders own 3.10% of the company’s stock.

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.