Retirement Systems of Alabama raised its holdings in The AZEK Company Inc. (NYSE:AZEK – Get Rating) by 8.1% in the first quarter, Holdings Channel reports. The fund owned 148,915 shares of the company’s stock after buying an additional 11,178 shares during the period. Retirement Systems of Alabama’s holdings in AZEK were worth $3,699,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Koshinski Asset Management Inc. purchased a new stake in shares of AZEK in the 1st quarter valued at approximately $25,000. CWM LLC purchased a new position in shares of AZEK during the 4th quarter worth approximately $27,000. Schroder Investment Management Group purchased a new position in shares of AZEK during the 4th quarter worth approximately $35,000. National Bank of Canada FI purchased a new position in shares of AZEK during the 4th quarter worth approximately $37,000. Finally, Parallel Advisors LLC boosted its position in AZEK by 3,690.3% in the 4th quarter. Parallel Advisors LLC now owns 1,175 shares of the company’s stock valued at $54,000 after buying an additional 1,144 shares during the period. Institutional investors own 96.53% of the company’s stock.
NYSE AZEK opened at $17.25 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.28 and a current ratio of 3.00. The firm has a market cap of $2.67 billion, a PE ratio of 23.63, a P/E/G ratio of 1.17 and a beta of 1.75. The AZEK Company Inc. has a one year low of $15.52 and a one year high of $46.56. The firm’s fifty day moving average is $19.45 and its two-hundred day moving average is $27.07.
AZEK (NYSE:AZEK – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $396.26 million for the quarter, compared to analyst estimates of $368.06 million. AZEK had a net margin of 8.49% and a return on equity of 11.08%. AZEK’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 earnings per share. Research analysts predict that The AZEK Company Inc. will post 0.98 earnings per share for the current year.
Several brokerages have commented on AZEK. The Goldman Sachs Group decreased their price target on shares of AZEK from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, June 23rd. Stephens set a $20.00 price target on shares of AZEK in a research report on Monday, June 20th. Loop Capital lowered shares of AZEK from a “buy” rating to a “hold” rating and reduced their price objective for the company from $56.00 to $25.00 in a report on Monday, April 25th. Barclays reduced their price objective on shares of AZEK from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, June 16th. Finally, Robert W. Baird reduced their price objective on shares of AZEK from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, June 16th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.07.
AZEK Company Profile (Get Rating)
The AZEK Company Inc engages in designing, manufacturing, and selling building products for residential, commercial, and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, which includes decking, railing, trim and moulding, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.
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