KBC Group NV Grows Stake in The AZEK Company Inc. (NYSE:AZEK)

KBC Group NV boosted its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 13.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 9,239 shares of the company’s stock after purchasing an additional 1,069 shares during the period. KBC Group NV’s holdings in AZEK were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of AZEK by 3.2% in the first quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock valued at $677,082,000 after acquiring an additional 413,297 shares during the period. Acadian Asset Management LLC purchased a new stake in AZEK in the 1st quarter worth about $439,000. Covestor Ltd lifted its stake in AZEK by 631.8% in the first quarter. Covestor Ltd now owns 2,393 shares of the company’s stock worth $120,000 after purchasing an additional 2,066 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of AZEK during the first quarter valued at approximately $285,000. Finally, Bessemer Group Inc. grew its stake in shares of AZEK by 6.7% during the first quarter. Bessemer Group Inc. now owns 308,554 shares of the company’s stock valued at $15,494,000 after buying an additional 19,274 shares during the last quarter. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

AZEK Stock Performance

Shares of AZEK stock opened at $46.46 on Wednesday. The AZEK Company Inc. has a 12-month low of $30.76 and a 12-month high of $50.78. The business’s fifty day simple moving average is $45.00 and its 200-day simple moving average is $44.20. The company has a current ratio of 3.07, a quick ratio of 2.11 and a debt-to-equity ratio of 0.41. The company has a market cap of $6.72 billion, a PE ratio of 41.12, a PEG ratio of 1.18 and a beta of 1.88.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Loop Capital cut AZEK from a “buy” rating to a “hold” rating and set a $47.00 price objective for the company. in a report on Friday, October 4th. JPMorgan Chase & Co. lowered their target price on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Stifel Nicolaus reduced their price target on shares of AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. UBS Group dropped their target price on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, BMO Capital Markets lifted their price target on shares of AZEK from $46.00 to $49.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.12.

AZEK Company 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.