Concentric Capital Strategies LP Boosts Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Concentric Capital Strategies LP increased its stake in The AZEK Company Inc. (NYSE:AZEK) by 24.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 173,162 shares of the company’s stock after buying an additional 34,555 shares during the quarter. Concentric Capital Strategies LP’s holdings in AZEK were worth $8,104,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. increased its position in shares of AZEK by 15.9% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 734,446 shares of the company’s stock valued at $30,942,000 after buying an additional 100,719 shares during the period. WCM Investment Management LLC increased its holdings in AZEK by 2.2% during the 3rd quarter. WCM Investment Management LLC now owns 539,494 shares of the company’s stock worth $25,232,000 after acquiring an additional 11,770 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in AZEK by 8.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 671,267 shares of the company’s stock worth $31,415,000 after purchasing an additional 50,230 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in AZEK by 203.7% in the 2nd quarter. Hsbc Holdings PLC now owns 142,142 shares of the company’s stock valued at $5,960,000 after purchasing an additional 95,332 shares during the period. Finally, Algert Global LLC grew its position in shares of AZEK by 18.5% during the 3rd quarter. Algert Global LLC now owns 119,453 shares of the company’s stock valued at $5,590,000 after purchasing an additional 18,690 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors.

AZEK Trading Up 1.6 %

Shares of AZEK stock opened at $53.12 on Monday. The business has a 50-day moving average of $46.12 and a 200 day moving average of $44.54. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.14. The AZEK Company Inc. has a 1-year low of $33.14 and a 1-year high of $54.16. The stock has a market capitalization of $7.60 billion, a PE ratio of 51.08, a P/E/G ratio of 2.34 and a beta of 1.88.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AZEK shares. DA Davidson lifted their price objective on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price target on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. UBS Group decreased their price objective on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets boosted their price target on shares of AZEK from $49.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Finally, Barclays increased their price target on shares of AZEK from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, AZEK currently has a consensus rating of “Moderate Buy” and an average target price of $49.82.

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.