Tidal Investments LLC Raises Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

Tidal Investments LLC lifted its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 69.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,587 shares of the company’s stock after acquiring an additional 4,352 shares during the period. Tidal Investments LLC’s holdings in AZEK were worth $495,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AZEK. Wellington Management Group LLP increased its position in AZEK by 33.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after acquiring an additional 3,595,863 shares during the period. FMR LLC increased its stake in AZEK by 57.9% in the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company’s stock valued at $318,782,000 after buying an additional 2,497,074 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in AZEK during the 2nd quarter worth $86,719,000. Interval Partners LP boosted its holdings in shares of AZEK by 162.4% in the second quarter. Interval Partners LP now owns 742,749 shares of the company’s stock valued at $31,292,000 after acquiring an additional 459,664 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of AZEK by 73.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,006,253 shares of the company’s stock worth $47,093,000 after acquiring an additional 425,609 shares during the period. 97.44% of the stock is owned by institutional investors and hedge funds.

AZEK Stock Performance

Shares of NYSE AZEK opened at $48.99 on Monday. The company has a 50-day simple moving average of $48.31 and a 200-day simple moving average of $45.14. 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 company has a market cap of $7.01 billion, a PE ratio of 47.11, a price-to-earnings-growth ratio of 2.40 and a beta of 1.92. The AZEK Company Inc. has a 12 month low of $35.38 and a 12 month high of $54.91.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AZEK. Robert W. Baird increased their target price on AZEK from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Barclays raised their target price on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. BMO Capital Markets increased 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, November 20th. Benchmark reiterated a “buy” rating and issued a $55.00 price objective on shares of AZEK in a research note on Thursday, November 21st. Finally, Loop Capital lowered shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a research report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, AZEK presently has an average rating of “Moderate Buy” and a consensus price target of $52.67.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $53.32, for a total value of $1,066,400.00. Following the sale, the chief executive officer now directly owns 923,765 shares of the company’s stock, valued at approximately $49,255,149.80. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Samara Toole sold 1,709 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total transaction of $90,577.00. Following the transaction, the chief marketing officer now directly owns 16,632 shares in the company, valued at approximately $881,496. This represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. 3.10% 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.