The AZEK Company Inc. (NYSE:AZEK) Holdings Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 37.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 310,393 shares of the company’s stock after selling 189,443 shares during the quarter. Victory Capital Management Inc.’s holdings in AZEK were worth $15,175,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. raised its holdings in shares of AZEK by 4.8% during the fourth quarter. Federated Hermes Inc. now owns 6,984 shares of the company’s stock valued at $332,000 after acquiring an additional 318 shares during the period. Signaturefd LLC lifted its holdings in shares of AZEK by 20.9% in the first quarter. Signaturefd LLC now owns 1,986 shares of the company’s stock valued at $97,000 after purchasing an additional 343 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of AZEK by 4.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 8,171 shares of the company’s stock worth $388,000 after buying an additional 379 shares during the period. Treasurer of the State of North Carolina grew its holdings in shares of AZEK by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 63,125 shares of the company’s stock valued at $2,997,000 after buying an additional 400 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of AZEK by 6.8% during the first quarter. Fifth Third Bancorp now owns 7,236 shares of the company’s stock valued at $354,000 after buying an additional 461 shares in the last quarter. Institutional investors own 97.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AZEK shares. Wolfe Research restated a “peer perform” rating on shares of AZEK in a report on Wednesday, March 26th. Stephens decreased their target price on AZEK from $58.00 to $53.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Loop Capital dropped their price target on AZEK from $55.00 to $49.00 and set a “hold” rating on the stock in a research report on Thursday, April 17th. Robert W. Baird upped their price target on AZEK from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Finally, UBS Group lowered their price objective on shares of AZEK from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $53.93.

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $51.40, for a total value of $1,028,000.00. Following the sale, the chief executive officer owned 852,765 shares of the company’s stock, valued at approximately $43,832,121. The trade was a 2.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

AZEK Price Performance

Shares of NYSE:AZEK opened at $54.35 on Thursday. The AZEK Company Inc. has a 52-week low of $35.48 and a 52-week high of $54.91. The company has a market capitalization of $7.82 billion, a PE ratio of 53.28 and a beta of 1.82. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.47 and a current ratio of 2.45. The company has a fifty day moving average of $52.57 and a 200-day moving average of $49.37.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. AZEK had a net margin of 9.92% and a return on equity of 13.87%. The firm had revenue of $452.23 million for the quarter, compared to the consensus estimate of $444.75 million. During the same quarter in the previous year, the company earned $0.39 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts predict that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

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.