Victory Capital Management Inc. Sells 232,539 Shares of The AZEK Company Inc. (NYSE:AZEK)

Victory Capital Management Inc. lowered its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 27.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 629,570 shares of the company’s stock after selling 232,539 shares during the quarter. Victory Capital Management Inc. owned 0.44% of AZEK worth $29,464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AZEK. Mercer Global Advisors Inc. ADV bought a new stake in AZEK during the second quarter worth $86,719,000. Price T Rowe Associates Inc. MD increased its position in shares of AZEK by 66.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock valued at $73,631,000 after purchasing an additional 587,107 shares during the last quarter. Interval Partners LP raised its stake in shares of AZEK by 162.4% during the 2nd quarter. Interval Partners LP now owns 742,749 shares of the company’s stock worth $31,292,000 after purchasing an additional 459,664 shares during the period. Vanguard Group Inc. boosted its holdings in shares of AZEK by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock worth $677,082,000 after buying an additional 413,297 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in AZEK by 136.0% during the second quarter. Assenagon Asset Management S.A. now owns 635,244 shares of the company’s stock valued at $26,763,000 after buying an additional 366,025 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AZEK shares. Loop Capital cut shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a research note on Friday, October 4th. BMO Capital Markets increased their price objective on AZEK from $46.00 to $49.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their target price on AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Truist Financial cut their price target on AZEK from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Royal Bank of Canada lowered their price objective on AZEK from $49.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.12.

AZEK Stock Down 2.3 %

Shares of NYSE:AZEK opened at $45.67 on Friday. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 1.22 and a beta of 1.88. The AZEK Company Inc. has a one year low of $30.36 and a one year high of $50.78. The firm has a fifty day moving average price of $44.80 and a two-hundred day moving average price of $44.21. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.07 and a quick ratio of 2.11.

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.