Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,970 shares of the company’s stock after purchasing an additional 2,872 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AZEK were worth $1,146,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. BluePath Capital Management LLC acquired a new stake in AZEK in the third quarter valued at about $31,000. CI Investments Inc. acquired a new stake in shares of AZEK in the 3rd quarter valued at approximately $153,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of AZEK in the third quarter valued at approximately $200,000. Winthrop Advisory Group LLC acquired a new position in AZEK during the fourth quarter worth $211,000. Finally, Yarbrough Capital LLC purchased a new position in AZEK in the fourth quarter worth $225,000. 97.44% of the stock is owned by institutional investors and hedge funds.

AZEK Stock Performance

Shares of NYSE AZEK opened at $46.13 on Friday. The company has a 50-day simple moving average of $47.84 and a 200-day simple moving average of $39.22. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.99 and a quick ratio of 1.67. The company has a market cap of $6.81 billion, a PE ratio of 58.39, a price-to-earnings-growth ratio of 1.47 and a beta of 1.92. The AZEK Company Inc. has a 12 month low of $23.08 and a 12 month high of $50.78.

AZEK (NYSE:AZEK) last released its earnings results on Tuesday, February 6th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.03 by $0.05. AZEK had a net margin of 8.57% and a return on equity of 9.61%. The firm had revenue of $240.44 million during the quarter, compared to analysts’ expectations of $234.12 million. On average, equities analysts anticipate that The AZEK Company Inc. will post 1.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Barclays upped their price target on shares of AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. B. Riley increased their target price on shares of AZEK from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Stephens lifted their price target on shares of AZEK from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Benchmark assumed coverage on AZEK in a report on Friday, April 19th. They issued a “buy” rating and a $55.00 price target on the stock. Finally, BMO Capital Markets lifted their price objective on AZEK from $39.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, AZEK currently has a consensus rating of “Moderate Buy” and an average price target of $44.11.

Insider Buying and Selling

In other AZEK news, insider Michelle A. Kasson sold 94,431 shares of AZEK stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $49.47, for a total value of $4,671,501.57. Following the completion of the sale, the insider now owns 23,544 shares in the company, valued at approximately $1,164,721.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,184,444 shares of the company’s stock, valued at $53,702,690.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michelle A. Kasson sold 94,431 shares of AZEK 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 completion of the transaction, the insider now owns 23,544 shares in the company, valued at approximately $1,164,721.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,431 shares of company stock worth $6,356,622. 3.10% of the stock is owned by company insiders.

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.