Rafferty Asset Management LLC Acquires 9,263 Shares of The AZEK Company Inc. (NYSE:AZEK)

Rafferty Asset Management LLC boosted its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 28.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,021 shares of the company’s stock after buying an additional 9,263 shares during the period. Rafferty Asset Management LLC’s holdings in AZEK were worth $1,995,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Empowered Funds LLC purchased a new stake in AZEK during the fourth quarter valued at about $27,000. FIL Ltd purchased a new stake in AZEK during the fourth quarter valued at about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in AZEK by 623.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock valued at $33,000 after purchasing an additional 592 shares in the last quarter. Avalon Trust Co purchased a new stake in AZEK during the fourth quarter valued at about $38,000. Finally, Blue Trust Inc. raised its position in AZEK by 94.2% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock valued at $85,000 after purchasing an additional 877 shares in the last quarter. Institutional investors own 97.44% of the company’s stock.

AZEK Stock Down 0.8%

Shares of NYSE:AZEK opened at $50.82 on Wednesday. The AZEK Company Inc. has a 1 year low of $35.48 and a 1 year high of $54.91. The company has a market cap of $7.31 billion, a PE ratio of 51.33, a P/E/G ratio of 1.91 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The stock’s 50-day moving average is $47.73 and its 200 day moving average is $48.46.

AZEK (NYSE:AZEK) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. AZEK had a return on equity of 13.47% and a net margin of 9.85%. The company had revenue of $452.23 million for the quarter, compared to the consensus estimate of $444.75 million. During the same quarter in the previous year, the business earned $0.39 EPS. AZEK’s revenue was up 8.1% compared to the same quarter last year. Sell-side analysts anticipate that The AZEK Company Inc. will post 1.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AZEK. BMO Capital Markets raised their price target on AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, March 24th. UBS Group lowered their price target on AZEK from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Wolfe Research restated a “peer perform” rating on shares of AZEK in a research report on Wednesday, March 26th. Robert W. Baird lifted their price objective on AZEK from $48.00 to $52.00 and gave the stock a “neutral” rating in a report 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 given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $53.93.

Insider Activity at AZEK

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of AZEK stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $41.03, for a total transaction of $615,450.00. Following the sale, the chief executive officer now directly owns 868,765 shares of the company’s stock, valued at approximately $35,645,427.95. The trade was a 1.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.20% of the stock is owned by company insiders.

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.