Brown Advisory Inc. Sells 228,690 Shares of The AZEK Company Inc. (NYSE:AZEK)

Brown Advisory Inc. trimmed its holdings in The AZEK Company Inc. (NYSE:AZEKGet Rating) by 6.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,071,708 shares of the company’s stock after selling 228,690 shares during the quarter. Brown Advisory Inc. owned approximately 1.98% of AZEK worth $78,785,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its holdings in shares of AZEK by 20.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,906,687 shares of the company’s stock worth $319,365,000 after acquiring an additional 1,149,893 shares in the last quarter. Phoenix Holdings Ltd. purchased a new stake in shares of AZEK during the 4th quarter worth approximately $36,871,000. Segall Bryant & Hamill LLC raised its holdings in shares of AZEK by 466.8% during the 4th quarter. Segall Bryant & Hamill LLC now owns 880,446 shares of the company’s stock worth $40,702,000 after acquiring an additional 725,108 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of AZEK by 839.0% during the 4th quarter. Marshall Wace LLP now owns 742,536 shares of the company’s stock worth $34,335,000 after acquiring an additional 663,460 shares in the last quarter. Finally, Atika Capital Management LLC purchased a new stake in shares of AZEK during the 4th quarter worth approximately $21,271,000. 96.53% of the stock is currently owned by institutional investors.

AZEK Price Performance

AZEK opened at $21.45 on Friday. The AZEK Company Inc. has a 12-month low of $15.52 and a 12-month high of $46.56. The company has a current ratio of 3.00, a quick ratio of 1.28 and a debt-to-equity ratio of 0.34. The business’s fifty day simple moving average is $19.14 and its 200-day simple moving average is $23.41. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 1.47 and a beta of 1.89.

AZEK (NYSE:AZEKGet Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. AZEK had a return on equity of 11.61% and a net margin of 8.49%. The company had revenue of $395.00 million during the quarter, compared to analysts’ expectations of $385.73 million. During the same period last year, the business posted $0.22 earnings per share. The firm’s revenue was up 20.6% compared to the same quarter last year. On average, equities research analysts anticipate that The AZEK Company Inc. will post 0.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Loop Capital lowered AZEK from a “buy” rating to a “hold” rating and decreased their price target for the company from $56.00 to $25.00 in a report on Monday, April 25th. Citigroup decreased their price target on AZEK from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, June 17th. BMO Capital Markets decreased their price target on AZEK from $48.00 to $33.00 in a report on Wednesday, May 11th. Robert W. Baird decreased their price target on AZEK from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, June 16th. Finally, The Goldman Sachs Group lowered AZEK from a “conviction-buy” rating to a “buy” rating and set a $23.00 price target on the stock. in a report on Wednesday, July 13th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.80.

AZEK Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for AZEK (NYSE:AZEK)

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