Pier Capital LLC Cuts Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Pier Capital LLC trimmed its holdings in The AZEK Company Inc. (NYSE:AZEK) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,797 shares of the company’s stock after selling 3,073 shares during the period. Pier Capital LLC owned about 0.08% of AZEK worth $5,260,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Empowered Funds LLC bought a new stake in AZEK during the 4th quarter valued at approximately $27,000. Avalon Trust Co bought a new stake in shares of AZEK during the fourth quarter valued at approximately $38,000. GAMMA Investing LLC raised its position in shares of AZEK by 39.1% during the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after buying an additional 239 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of AZEK in the third quarter worth $59,000. Finally, Millburn Ridgefield Corp bought a new position in shares of AZEK during the third quarter worth $84,000. Institutional investors own 97.44% of the company’s stock.

Analyst Upgrades and Downgrades

AZEK has been the topic of a number of research reports. Citigroup upgraded shares of AZEK from a “neutral” rating to a “buy” rating and lifted their price target for the company from $51.00 to $60.00 in a report on Monday, January 6th. Barclays lifted their target price on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. The Goldman Sachs Group boosted their target price on AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. William Blair restated a “market perform” rating on shares of AZEK in a report on Monday. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $53.00 price objective (down from $58.00) on shares of AZEK in a report on Monday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AZEK has an average rating of “Moderate Buy” and a consensus price target of $54.93.

Insider Buying and Selling

In other AZEK news, CEO Jesse G. Singh sold 20,387 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $50.08, for a total value of $1,020,980.96. Following the sale, the chief executive officer now owns 883,765 shares in the company, valued at $44,258,951.20. This trade represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 55,000 shares of company stock valued at $2,518,624. Insiders own 3.20% of the company’s stock.

AZEK Price Performance

AZEK stock opened at $48.67 on Tuesday. The AZEK Company Inc. has a 12-month low of $35.48 and a 12-month high of $54.91. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $47.39 and a 200-day moving average price of $47.23. The firm has a market capitalization of $6.99 billion, a PE ratio of 49.16, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. As a group, equities research analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current year.

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.