KBC Group NV Raises Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

KBC Group NV raised its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 13.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,239 shares of the company’s stock after buying an additional 1,069 shares during the quarter. KBC Group NV’s holdings in AZEK were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AZEK. Equitable Trust Co. raised its holdings in AZEK by 2.2% in the third quarter. Equitable Trust Co. now owns 10,346 shares of the company’s stock worth $484,000 after buying an additional 226 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of AZEK by 3.7% during the 1st quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock valued at $355,000 after buying an additional 251 shares during the period. Creative Planning boosted its stake in shares of AZEK by 6.6% in the 3rd quarter. Creative Planning now owns 6,987 shares of the company’s stock worth $327,000 after buying an additional 430 shares during the last quarter. Covestor Ltd grew its holdings in shares of AZEK by 18.8% in the third quarter. Covestor Ltd now owns 2,758 shares of the company’s stock worth $129,000 after acquiring an additional 436 shares during the period. Finally, Blue Trust Inc. increased its position in AZEK by 106.4% during the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after acquiring an additional 480 shares during the last quarter. Institutional investors own 97.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AZEK. BMO Capital Markets boosted their price target on AZEK from $46.00 to $49.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reduced their target price on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price target on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Stifel Nicolaus reduced their price objective on AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Truist Financial lowered their target price on AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a research report 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.12.

AZEK Stock Performance

NYSE:AZEK opened at $46.46 on Wednesday. The company has a market cap of $6.72 billion, a price-to-earnings ratio of 41.12, a PEG ratio of 1.18 and a beta of 1.88. The AZEK Company Inc. has a 1 year low of $30.76 and a 1 year high of $50.78. The stock’s 50 day simple moving average is $45.00 and its two-hundred day simple moving average is $44.20. 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.