Eagle Asset Management Inc. Raises Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Eagle Asset Management Inc. raised its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 24.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 259,762 shares of the company’s stock after buying an additional 51,177 shares during the period. Eagle Asset Management Inc.’s holdings in AZEK were worth $12,219,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AZEK. Equitable Trust Co. grew its holdings in shares of AZEK by 2.2% in the third quarter. Equitable Trust Co. now owns 10,346 shares of the company’s stock worth $484,000 after acquiring an additional 226 shares during the period. Tidal Investments LLC lifted its stake in shares of AZEK by 3.7% in the 1st quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock worth $355,000 after purchasing an additional 251 shares during the period. Creative Planning boosted its holdings in shares of AZEK by 6.6% in the third quarter. Creative Planning now owns 6,987 shares of the company’s stock worth $327,000 after buying an additional 430 shares during the last quarter. Covestor Ltd grew its position in AZEK by 18.8% during the third quarter. Covestor Ltd now owns 2,758 shares of the company’s stock valued at $129,000 after buying an additional 436 shares during the period. Finally, Blue Trust Inc. increased its holdings in AZEK by 106.4% during the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after buying an additional 480 shares during the last quarter. 97.44% of the stock is owned by institutional investors.

AZEK Trading Up 2.3 %

AZEK stock opened at $50.98 on Friday. The firm has a fifty day moving average price of $45.41 and a 200 day moving average price of $44.28. The AZEK Company Inc. has a fifty-two week low of $31.16 and a fifty-two week high of $51.03. The firm has a market cap of $7.38 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 2.23 and a beta of 1.88. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.11 and a current ratio of 2.17.

Analyst Upgrades and Downgrades

AZEK has been the subject of a number of recent research reports. Loop Capital downgraded shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price objective for the company. in a research report on Friday, October 4th. DA Davidson raised their price objective on AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday. Benchmark reissued a “buy” rating and issued a $55.00 target price on shares of AZEK in a report on Thursday. BMO Capital Markets lifted their price target on shares of AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Stifel Nicolaus reduced their price objective on shares of AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, AZEK currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.24.

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.