Cannon Global Investment Management LLC Acquires Shares of 9,500 The AZEK Company Inc. (NYSE:AZEK)

Cannon Global Investment Management LLC bought a new position in shares of The AZEK Company Inc. (NYSE:AZEK) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 9,500 shares of the company’s stock, valued at approximately $451,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AZEK. Wellington Management Group LLP boosted its holdings in shares of AZEK by 33.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after purchasing an additional 3,595,863 shares during the last quarter. FMR LLC boosted its stake in AZEK by 57.9% during the third quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after buying an additional 2,497,074 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of AZEK by 73.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,006,253 shares of the company’s stock valued at $47,093,000 after acquiring an additional 425,609 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of AZEK during the 4th quarter valued at about $19,436,000. Finally, Gradient Investments LLC boosted its position in shares of AZEK by 834.9% during the 4th quarter. Gradient Investments LLC now owns 410,233 shares of the company’s stock valued at $19,474,000 after acquiring an additional 366,352 shares during the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.

AZEK Stock Down 0.8 %

AZEK opened at $41.39 on Monday. The business has a 50 day moving average price of $47.32 and a two-hundred day moving average price of $47.18. The AZEK Company Inc. has a 52 week low of $35.48 and a 52 week high of $54.91. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The company has a market cap of $5.95 billion, a PE ratio of 41.80, a P/E/G ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK) last issued its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. As a group, research analysts anticipate that The AZEK Company Inc. will post 1.34 EPS for the current year.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 20,387 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $50.08, for a total value of $1,020,980.96. Following the sale, the chief executive officer now owns 883,765 shares of the company’s stock, valued at approximately $44,258,951.20. This represents a 2.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 55,000 shares of company stock valued at $2,518,624 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AZEK has been the topic of several recent analyst reports. BMO Capital Markets boosted their target price on shares of AZEK from $52.00 to $54.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. Barclays upped their price target on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. upped their price target on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. The Goldman Sachs Group upped 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, Robert W. Baird upped their target price on shares of AZEK from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.85.

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.