The AZEK Company Inc. (NYSE:AZEK) Shares Bought by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lifted its holdings in shares of The AZEK Company Inc. (NYSE:AZEKGet Rating) by 358.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 388,753 shares of the company’s stock after acquiring an additional 303,998 shares during the period. CIBC Private Wealth Group LLC owned 0.25% of AZEK worth $17,976,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jennison Associates LLC grew its position in shares of AZEK by 10.2% during the third quarter. Jennison Associates LLC now owns 875,333 shares of the company’s stock worth $31,976,000 after acquiring an additional 81,117 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of AZEK during the fourth quarter worth approximately $37,000. Macquarie Group Ltd. grew its position in shares of AZEK by 26.7% during the third quarter. Macquarie Group Ltd. now owns 273,142 shares of the company’s stock worth $9,977,000 after acquiring an additional 57,481 shares during the last quarter. Lord Abbett & CO. LLC grew its position in AZEK by 12.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,798,091 shares of the company’s stock valued at $65,684,000 after buying an additional 193,417 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in AZEK by 20.9% in the 3rd quarter. Alliancebernstein L.P. now owns 2,752,224 shares of the company’s stock valued at $100,539,000 after buying an additional 475,077 shares during the last quarter. Institutional investors and hedge funds own 98.69% of the company’s stock.

In related news, insider Sandra Lamartine purchased 965 shares of the firm’s stock in a transaction on Wednesday, March 9th. The stock was purchased at an average price of $26.01 per share, for a total transaction of $25,099.65. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul J. Kardish purchased 9,100 shares of the firm’s stock in a transaction on Monday, February 7th. The stock was bought at an average price of $30.33 per share, with a total value of $276,003.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 32,065 shares of company stock valued at $946,833. Corporate insiders own 4.20% of the company’s stock.

Several equities research analysts have commented on AZEK shares. JPMorgan Chase & Co. decreased their target price on shares of AZEK from $37.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 20th. UBS Group started coverage on shares of AZEK in a research report on Wednesday, January 19th. They set a “buy” rating and a $52.00 target price on the stock. Stephens upgraded shares of AZEK from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $47.00 to $41.00 in a research report on Monday, January 31st. B. Riley cut their price target on AZEK from $47.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, April 6th. Finally, Loop Capital downgraded AZEK from a “buy” rating to a “hold” rating and cut their price target for the stock from $56.00 to $25.00 in a research note on Monday, April 25th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $36.38.

Shares of AZEK stock opened at $21.24 on Friday. The firm has a 50-day moving average price of $25.02 and a 200 day moving average price of $33.74. The AZEK Company Inc. has a twelve month low of $20.55 and a twelve month high of $51.32. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 33.19, a PEG ratio of 1.09 and a beta of 1.83. The company has a current ratio of 2.69, a quick ratio of 0.91 and a debt-to-equity ratio of 0.32.

AZEK (NYSE:AZEKGet Rating) last posted its quarterly earnings data on Thursday, February 3rd. The company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.01. AZEK had a net margin of 8.13% and a return on equity of 10.30%. The company had revenue of $259.71 million during the quarter, compared to the consensus estimate of $256.70 million. During the same quarter in the prior year, the company posted $0.14 EPS. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. As a group, research analysts predict that The AZEK Company Inc. will post 1.13 earnings per share for the current year.

About AZEK (Get Rating)

The AZEK Company Inc engages in designing, manufacturing, and selling building products for residential, commercial, and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, which includes decking, railing, trim and moulding, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.

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Institutional Ownership by Quarter for AZEK (NYSE:AZEK)

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