Fifth Third Bancorp Has $354,000 Stake in The AZEK Company Inc. (NYSE:AZEK)

Fifth Third Bancorp lifted its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 6.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,236 shares of the company’s stock after acquiring an additional 461 shares during the quarter. Fifth Third Bancorp’s holdings in AZEK were worth $354,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AZEK. Truist Financial Corp lifted its holdings in AZEK by 1.6% during the 4th quarter. Truist Financial Corp now owns 16,706 shares of the company’s stock worth $793,000 after buying an additional 255 shares during the period. Investment House LLC lifted its holdings in AZEK by 0.7% during the 4th quarter. Investment House LLC now owns 39,255 shares of the company’s stock worth $1,863,000 after buying an additional 290 shares during the period. Federated Hermes Inc. lifted its stake in shares of AZEK by 4.8% in the 4th quarter. Federated Hermes Inc. now owns 6,984 shares of the company’s stock valued at $332,000 after purchasing an additional 318 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of AZEK by 13.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company’s stock valued at $146,000 after purchasing an additional 352 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its stake in shares of AZEK by 4.9% in the 4th quarter. Integrated Wealth Concepts LLC now owns 8,171 shares of the company’s stock valued at $388,000 after purchasing an additional 379 shares during the period. Institutional investors and hedge funds own 97.44% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AZEK. UBS Group dropped their price objective on AZEK from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. BMO Capital Markets boosted their price objective on AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, March 24th. Wolfe Research reissued a “peer perform” rating on shares of AZEK in a research note on Wednesday, March 26th. William Blair reissued a “market perform” rating on shares of AZEK in a research note on Monday, March 24th. Finally, Loop Capital dropped their price objective on AZEK from $55.00 to $49.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $53.93.

AZEK Stock Down 1.6%

AZEK stock opened at $51.33 on Thursday. The stock’s 50 day simple moving average is $50.14 and its 200 day simple moving average is $48.91. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.47 and a current ratio of 2.45. The company has a market cap of $7.38 billion, a P/E ratio of 50.32 and a beta of 1.82.

AZEK (NYSE:AZEK) last posted its earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. AZEK had a return on equity of 13.87% and a net margin of 9.92%. The company had revenue of $452.23 million for the quarter, compared to analyst estimates of $444.75 million. During the same quarter last year, the company earned $0.39 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, research analysts expect that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the transaction, the chief executive officer now owns 852,765 shares in the company, valued at $43,832,121. This trade represents a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

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.