Tabor Asset Management LP Takes Position in The AZEK Company Inc. (NYSE:AZEK)

Tabor Asset Management LP acquired a new position in shares of The AZEK Company Inc. (NYSE:AZEK) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,227 shares of the company’s stock, valued at approximately $2,289,000.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC acquired a new position in AZEK during the 4th quarter worth approximately $27,000. FIL Ltd bought a new stake in shares of AZEK in the fourth quarter worth $28,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in AZEK by 623.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock worth $33,000 after purchasing an additional 592 shares during the last quarter. Avalon Trust Co bought a new position in AZEK in the fourth quarter valued at $38,000. Finally, Blue Trust Inc. increased its stake in AZEK by 94.2% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock valued at $85,000 after buying an additional 877 shares during the last quarter. 97.44% of the stock is currently owned by institutional investors.

AZEK Trading Down 0.3%

AZEK stock opened at $51.19 on Monday. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of 51.71, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The company has a fifty day moving average price of $47.29 and a two-hundred day moving average price of $48.40. 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 announced its earnings results on Tuesday, May 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The business had revenue of $452.23 million during the quarter, compared to the consensus estimate of $444.75 million. During the same quarter in the previous year, the firm posted $0.39 EPS. AZEK’s revenue was up 8.1% compared to the same quarter last year. Equities analysts anticipate that The AZEK Company Inc. will post 1.34 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $41.03, for a total value of $615,450.00. Following the transaction, the chief executive officer now owns 868,765 shares of the company’s stock, valued at approximately $35,645,427.95. This represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AZEK has been the topic of several analyst reports. Robert W. Baird boosted their price target on shares of AZEK from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Barclays upped their target price on AZEK from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Citigroup restated a “neutral” rating and issued a $51.50 price target (down from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. UBS Group dropped their price objective on AZEK from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Finally, Raymond James set a $51.50 price objective on AZEK in a report on Tuesday, March 25th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $53.93.

About AZEK

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.