TimesSquare Capital Management LLC Has $38.83 Million Holdings in The AZEK Company Inc. (NYSE:AZEK)

TimesSquare Capital Management LLC increased its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 817,963 shares of the company’s stock after purchasing an additional 45,324 shares during the period. TimesSquare Capital Management LLC’s holdings in AZEK were worth $38,829,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP grew its stake in shares of AZEK by 33.8% during the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after purchasing an additional 3,595,863 shares during the period. FMR LLC grew its stake in shares of AZEK by 57.9% during the third quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after purchasing an additional 2,497,074 shares during the period. State Street Corp grew its stake in shares of AZEK by 1.9% during the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock worth $114,729,000 after purchasing an additional 45,774 shares during the period. Geode Capital Management LLC grew its stake in shares of AZEK by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company’s stock worth $109,105,000 after purchasing an additional 12,644 shares during the period. Finally, JPMorgan Chase & Co. grew its stake 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 worth $93,564,000 after purchasing an additional 90,206 shares during the period. 97.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Benchmark reiterated a “buy” rating and set a $55.00 target price on shares of AZEK in a report on Thursday, November 21st. Citigroup upgraded AZEK from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $51.00 to $60.00 in a report on Monday, January 6th. The Goldman Sachs Group lifted their target price on AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Robert W. Baird lifted their target price on AZEK from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.85.

Insider Activity at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $53.32, for a total value of $1,066,400.00. Following the sale, the chief executive officer now owns 923,765 shares in the company, valued at $49,255,149.80. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Samara Toole sold 1,709 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total value of $90,577.00. Following the transaction, the chief marketing officer now owns 16,632 shares in the company, valued at approximately $881,496. This trade represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,709 shares of company stock valued at $3,060,151. Insiders own 3.20% of the company’s stock.

AZEK Stock Up 1.9 %

AZEK stock opened at $51.06 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.14. The stock has a market capitalization of $7.30 billion, a P/E ratio of 51.58, a P/E/G ratio of 2.19 and a beta of 1.94. The business has a 50-day moving average of $49.72 and a 200-day moving average of $46.73. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 EPS 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%. On average, sell-side analysts anticipate that The AZEK Company Inc. will post 1.29 earnings per share for the current fiscal year.

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.