Barclays PLC Grows Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

Barclays PLC increased its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 57.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,242 shares of the company’s stock after purchasing an additional 25,305 shares during the period. Barclays PLC’s holdings in AZEK were worth $2,098,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Morgan Stanley increased its holdings in AZEK by 272.4% during the fourth quarter. Morgan Stanley now owns 3,973,475 shares of the company’s stock valued at $80,741,000 after buying an additional 2,906,460 shares during the last quarter. Wellington Management Group LLP increased its holdings in AZEK by 30.6% during the first quarter. Wellington Management Group LLP now owns 9,227,941 shares of the company’s stock valued at $217,226,000 after buying an additional 2,162,699 shares during the last quarter. Victory Capital Management Inc. increased its holdings in AZEK by 3,143.7% during the second quarter. Victory Capital Management Inc. now owns 913,332 shares of the company’s stock valued at $27,665,000 after buying an additional 885,175 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of AZEK in the first quarter worth $20,183,000. Finally, JPMorgan Chase & Co. increased its stake in shares of AZEK by 29.3% in the first quarter. JPMorgan Chase & Co. now owns 2,720,419 shares of the company’s stock worth $64,039,000 after purchasing an additional 616,266 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. BMO Capital Markets increased their price objective on shares of AZEK from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday, August 14th. Deutsche Bank Aktiengesellschaft upped their target price on shares of AZEK from $34.00 to $38.00 in a research report on Thursday, August 10th. Credit Suisse Group upped their target price on shares of AZEK from $27.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 9th. The Goldman Sachs Group upped their target price on shares of AZEK from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, Barclays dropped their target price on shares of AZEK from $41.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.28.

Insider Activity

In other news, CEO Jesse G. Singh sold 30,000 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $33.32, for a total value of $999,600.00. Following the sale, the chief executive officer now owns 70,000 shares of the company’s stock, valued at $2,332,400. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Jesse G. Singh sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $33.32, for a total value of $999,600.00. Following the transaction, the chief executive officer now owns 70,000 shares of the company’s stock, valued at approximately $2,332,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $28.49, for a total transaction of $370,370.00. Following the completion of the transaction, the chief executive officer now directly owns 1,226,824 shares in the company, valued at approximately $34,952,215.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,000 shares of company stock valued at $1,794,550. 3.10% of the stock is currently owned by company insiders.

AZEK Trading Down 0.2 %

Shares of AZEK opened at $30.88 on Thursday. The AZEK Company Inc. has a twelve month low of $16.76 and a twelve month high of $34.96. The company has a market cap of $4.61 billion, a P/E ratio of 220.57, a P/E/G ratio of 5.95 and a beta of 1.73. The company has a current ratio of 3.41, a quick ratio of 2.08 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $28.73 and its 200-day simple moving average is $28.86.

About AZEK

The AZEK Company Inc engages in manufacturing and selling of 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, 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.