Peregrine Capital Management LLC Trims Stake in The AZEK Company Inc. (NYSE:AZEK)

Peregrine Capital Management LLC lowered its stake in The AZEK Company Inc. (NYSE:AZEK) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,893 shares of the company’s stock after selling 16,586 shares during the period. Peregrine Capital Management LLC owned approximately 0.13% of AZEK worth $8,634,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. WCM Investment Management LLC boosted its position in shares of AZEK by 2.2% during the third quarter. WCM Investment Management LLC now owns 539,494 shares of the company’s stock worth $25,232,000 after acquiring an additional 11,770 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of AZEK by 8.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 671,267 shares of the company’s stock valued at $31,415,000 after acquiring an additional 50,230 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in 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 last quarter. State Street Corp raised its position in AZEK by 1.9% in the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after purchasing an additional 45,774 shares during the period. Finally, Algert Global LLC increased its holdings in AZEK by 18.5% in the 3rd quarter. Algert Global LLC now owns 119,453 shares of the company’s stock valued at $5,590,000 after purchasing an additional 18,690 shares during the last quarter. Institutional investors own 97.44% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $55.00 price target on shares of AZEK in a report on Thursday, November 21st. Royal Bank of Canada lifted their price objective on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. DA Davidson boosted their price objective on shares of AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Citigroup upgraded AZEK from a “neutral” rating to a “buy” rating and lifted their target price for the company from $51.00 to $60.00 in a report on Monday, January 6th. Finally, The Goldman Sachs Group raised their target price on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, AZEK currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.85.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 20,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $53.32, for a total value of $1,066,400.00. Following the transaction, the chief executive officer now directly owns 923,765 shares in the company, valued at approximately $49,255,149.80. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Samara Toole sold 1,709 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total transaction of $90,577.00. Following the completion of the sale, the chief marketing officer now directly owns 16,632 shares of the company’s stock, valued at $881,496. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,709 shares of company stock worth $3,060,151. Corporate insiders own 3.20% of the company’s stock.

AZEK Trading Up 0.4 %

Shares of NYSE AZEK opened at $50.16 on Tuesday. The firm has a 50-day moving average of $49.77 and a 200 day moving average of $46.67. The stock has a market cap of $7.17 billion, a P/E ratio of 50.66, a price-to-earnings-growth ratio of 2.19 and a beta of 1.94. The AZEK Company Inc. has a 1 year low of $35.48 and a 1 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 1.14.

AZEK (NYSE:AZEK) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates 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, sell-side analysts expect that The AZEK Company Inc. will post 1.29 EPS for the current fiscal 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.