Barclays PLC Boosts Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Barclays PLC increased its stake in The AZEK Company Inc. (NYSE:AZEK) by 96.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 191,588 shares of the company’s stock after purchasing an additional 93,819 shares during the quarter. Barclays PLC owned about 0.13% of AZEK worth $8,966,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AZEK. Public Employees Retirement System of Ohio grew its holdings in AZEK by 1.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 153,349 shares of the company’s stock valued at $7,177,000 after buying an additional 1,495 shares in the last quarter. Nomura Asset Management Co. Ltd. bought a new position in shares of AZEK in the third quarter valued at approximately $145,000. Y Intercept Hong Kong Ltd purchased a new position in AZEK during the third quarter valued at approximately $216,000. Orion Portfolio Solutions LLC increased its holdings in AZEK by 238.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 20,701 shares of the company’s stock worth $969,000 after acquiring an additional 14,593 shares during the period. Finally, XTX Topco Ltd lifted its stake in AZEK by 292.3% in the 3rd quarter. XTX Topco Ltd now owns 21,928 shares of the company’s stock worth $1,026,000 after purchasing an additional 16,338 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AZEK has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Royal Bank of Canada upped their target price on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. BMO Capital Markets raised their price target on AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. The Goldman Sachs Group lifted their target price on shares of AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of AZEK in a report on Thursday, November 21st. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $52.67.

AZEK Price Performance

Shares of NYSE:AZEK opened at $52.74 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The stock has a market cap of $7.54 billion, a PE ratio of 50.71, a PEG ratio of 2.40 and a beta of 1.92. The company’s fifty day moving average is $48.03 and its 200 day moving average is $45.07. The AZEK Company Inc. has a 52 week low of $35.38 and a 52 week high of $54.91.

Insider Activity

In other news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $53.32, for a total value of $1,066,400.00. Following the transaction, the chief executive officer now owns 923,765 shares in the company, valued at approximately $49,255,149.80. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Samara Toole sold 1,709 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $53.00, for a total transaction of $90,577.00. Following the sale, the chief marketing officer now owns 16,632 shares of the company’s stock, valued at $881,496. This represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.