Y Intercept Hong Kong Ltd Raises Position in The AZEK Company Inc. (NYSE:AZEK)

Y Intercept Hong Kong Ltd increased its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 69.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,827 shares of the company’s stock after purchasing an additional 3,210 shares during the period. Y Intercept Hong Kong Ltd’s holdings in AZEK were worth $372,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AZEK. Empowered Funds LLC acquired a new stake in shares of AZEK in the 4th quarter valued at approximately $27,000. Farther Finance Advisors LLC raised its position in AZEK by 183.1% in the third quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock worth $35,000 after acquiring an additional 487 shares in the last quarter. GAMMA Investing LLC lifted its holdings in AZEK by 39.1% in the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after acquiring an additional 239 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in AZEK in the third quarter valued at $59,000. Finally, Millburn Ridgefield Corp purchased a new stake in shares of AZEK during the 3rd quarter worth $84,000. 97.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Citigroup upgraded shares of AZEK from a “neutral” rating to a “buy” rating and raised their price objective for the company from $51.00 to $60.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. lifted 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. Benchmark restated a “buy” rating and issued a $55.00 price target on shares of AZEK in a report on Thursday, November 21st. The Goldman Sachs Group raised their price objective on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, DA Davidson boosted their target price on AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.85.

Insider Activity at AZEK

In related news, CMO Samara Toole sold 1,709 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total transaction of $90,577.00. Following the transaction, the chief marketing officer now directly owns 16,632 shares in the company, valued at $881,496. This trade represents a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jesse G. Singh sold 20,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $53.32, for a total transaction of $1,066,400.00. Following the sale, the chief executive officer now owns 923,765 shares of the company’s stock, valued at approximately $49,255,149.80. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,709 shares of company stock valued at $3,060,151 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

AZEK Stock Performance

NYSE AZEK opened at $45.88 on Tuesday. The business’s 50-day simple moving average is $48.90 and its 200-day simple moving average is $47.19. The firm has a market capitalization of $6.59 billion, a P/E ratio of 46.34, a P/E/G ratio of 1.91 and a beta of 1.94. The AZEK Company Inc. has a 1-year low of $35.48 and a 1-year high of $54.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

AZEK (NYSE:AZEK) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. Equities analysts predict that The AZEK Company Inc. will post 1.34 EPS for the current year.

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.