Jennison Associates LLC lessened its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 47.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 474,056 shares of the company's stock after selling 435,428 shares during the quarter. Jennison Associates LLC owned about 0.33% of AZEK worth $22,186,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of AZEK. Vanguard Group Inc. grew its position in 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 last quarter. Acadian Asset Management LLC bought a new stake in shares of AZEK during the 1st quarter valued at approximately $439,000. O Shaughnessy Asset Management LLC bought a new stake in shares of AZEK during the 1st quarter valued at approximately $285,000. CANADA LIFE ASSURANCE Co increased its position in AZEK by 180.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 36,912 shares of the company's stock worth $1,856,000 after purchasing an additional 23,746 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in AZEK in the 1st quarter valued at approximately $380,000. Institutional investors own 97.44% of the company's stock.
Several equities research analysts recently weighed in on the company. Barclays raised their price objective on AZEK from $53.00 to $58.00 and gave the company an "overweight" rating in a report on Thursday. Robert W. Baird boosted their price target on AZEK from $52.00 to $54.00 and gave the stock an "outperform" rating in a report on Wednesday. Stifel Nicolaus dropped their price objective on shares of AZEK from $52.00 to $50.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Benchmark reissued a "buy" rating and set a $55.00 target price on shares of AZEK in a report on Thursday. Finally, Loop Capital downgraded shares of AZEK from a "buy" rating to a "hold" rating and set a $47.00 price target for the company. in a research note on Friday, October 4th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, AZEK has an average rating of "Moderate Buy" and an average price target of $49.24.
View Our Latest Stock Analysis on AZEK
NYSE:AZEK opened at $50.98 on Friday. 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 firm's 50 day moving average is $45.41 and its 200 day moving average is $44.29. The AZEK Company Inc. has a 12 month low of $31.16 and a 12 month high of $51.03. The stock has a market capitalization of $7.38 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 1.20 and a beta of 1.88.
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.
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