Alliancebernstein L.P. Has $156.40 Million Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Alliancebernstein L.P. boosted its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 15.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,294,619 shares of the company’s stock after buying an additional 429,574 shares during the quarter. Alliancebernstein L.P.’s holdings in AZEK were worth $156,396,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of AZEK by 105.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,798 shares of the company’s stock worth $2,845,000 after buying an additional 31,193 shares during the period. State Street Corp grew its stake in shares of AZEK by 1.9% in the 3rd quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after buying an additional 45,774 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of AZEK by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company’s stock valued at $93,564,000 after acquiring an additional 90,206 shares in the last quarter. Stifel Financial Corp increased its stake in AZEK by 24.7% during the 3rd quarter. Stifel Financial Corp now owns 22,481 shares of the company’s stock valued at $1,052,000 after purchasing an additional 4,454 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of AZEK by 94.2% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock worth $85,000 after acquiring an additional 877 shares in the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on AZEK. Barclays upped their price target on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Wolfe Research restated a “peer perform” rating on shares of AZEK in a research note on Wednesday, March 26th. Robert W. Baird restated a “neutral” rating and issued a $53.00 price objective (down from $58.00) on shares of AZEK in a research note on Monday, March 24th. Baird R W cut shares of AZEK from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, William Blair reiterated a “market perform” rating on shares of AZEK in a research report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $54.32.

AZEK Stock Down 0.9 %

Shares of NYSE AZEK opened at $48.45 on Wednesday. The stock has a market capitalization of $6.96 billion, a P/E ratio of 48.94, a PEG ratio of 1.91 and a beta of 1.95. The firm’s 50 day simple moving average is $47.35 and its two-hundred day simple moving average is $47.53. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

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

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 19,613 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $44.98, for a total transaction of $882,192.74. Following the transaction, the chief executive officer now owns 904,152 shares in the company, valued at $40,668,756.96. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 55,000 shares of company stock worth $2,518,624 in the last 90 days. Company insiders own 3.20% of the company’s stock.

About AZEK

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.