M&T Bank Corp Buys 8,456 Shares of The AZEK Company Inc. (NYSE:AZEK)

M&T Bank Corp raised its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 140.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 14,473 shares of the company’s stock after purchasing an additional 8,456 shares during the period. M&T Bank Corp’s holdings in AZEK were worth $677,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP lifted 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 acquiring an additional 3,595,863 shares during the last quarter. FMR LLC lifted 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 purchasing an additional 2,497,074 shares during the last quarter. State Street Corp boosted its holdings in shares of AZEK by 1.9% in the 3rd quarter. State Street Corp now owns 2,451,483 shares of the company’s stock worth $114,729,000 after purchasing an additional 45,774 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of AZEK by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company’s stock valued at $99,175,000 after purchasing an additional 118,351 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of AZEK during the 2nd quarter valued at about $86,719,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AZEK. Loop Capital lowered AZEK from a “buy” rating to a “hold” rating and set a $47.00 target price for the company. in a research note on Friday, October 4th. The Goldman Sachs Group increased their target price on shares of AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, December 12th. DA Davidson boosted their price target on shares of AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Barclays raised their price objective on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, BMO Capital Markets boosted their target price on AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, AZEK has an average rating of “Moderate Buy” and a consensus target price of $52.67.

AZEK Stock Down 0.6 %

Shares of AZEK stock opened at $53.18 on Tuesday. The company’s fifty day simple moving average is $47.85 and its two-hundred day simple moving average is $45.04. The AZEK Company Inc. has a 12-month low of $35.38 and a 12-month high of $54.91. The company has a current ratio of 2.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company has a market cap of $7.61 billion, a P/E ratio of 51.13, a PEG ratio of 2.40 and a beta of 1.92.

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.