Wellington Management Co. LLP has recently announced that it has increased stake in The AZEK Company Inc. (NYSE:AZEK) by 47.09%. After grabbing 13.57 million shares, the institutional investor is now in possession of 4.35 million shares of the Industrials Company. The new investment brought the stake of investor firm to 8.99% having worth around $423.5 million. Moreover, Capital Research & Management Co increased its share by 0.96 million to have a control over 12.61 million shares. And The Vanguard Group, Inc. raised its holdings to 1.25 million shares by acquiring 11.96 million shares or 7.92% of the stake.
The AZEK Company Inc. (AZEK) concluded trading on 09/14/23 at a closing price of $31.69, with 2.56 million shares of worth about $80.97 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 44.31% during that period and on Thursday the price saw a gain of about 0.32%. Currently the company’s common shares owned by public are about 150.14M shares, out of which, 146.33M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 19 analysts are covering the AZEK stock and their offered price forecasts bring an average price target of $37.63. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $42.00 and could fall to a lowest price of $33.00. The stock’s current price level is 15.87% above of average price target set by the analysts, while a rise to estimated low would result in gain of 3.97% for the stock. However, touching the estimated high of $42.00 would mean a gain of 24.55% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 62 times over the past 12 months. They bought 200,842 shares in 27 of the transactions. In 35 selling transactions, insiders dumped 35,606,424 shares.
Ontario Teachers Pension Plan, American Funds Small Cap World Fu, and American Funds AMCAP Fund are the top 3 mutual funds which are holding stakes in The AZEK Company Inc. Ontario Teachers Pension Plan is currently holding 19.1 million shares of worth totaling $595.82 million. The company recently came buying 19.1 million shares which brought its stake up to 12.65% of the company’s outstanding shares. American Funds Small Cap World Fu bought 0.23 million shares, after which its hold over company’s outstanding shares expand to 7.84%, leaving 11.83 million shares with the mutual fund that have a worth of about $369.05 million. American Funds AMCAP Fund, after buying 5.35 million shares, have now control over 3.55% of the stake in the company. It holds 0.72 million shares of worth $166.92 million.
The AZEK Company Inc. (NYSE: AZEK) started trading at $31.88, above $0.29 from concluding price of the previous day. However, the stock later moved at a day high price of 31.97, or with a gain of 0.32%. Stock saw a price change of -4.46% in past 5 days and over the past one month there was a price change of -6.96%. Year-to-date (YTD), AZEK shares are showing a performance of 55.95% which increased to 71.58% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $15.12 but also hit the highest price of $34.96 during that period. The average intraday trading volume for The AZEK Company Inc. shares is 1.50 million. The stock is currently trading -2.80% below its 20-day simple moving average (SMA20), while that difference is down -0.10% for SMA50 and it goes to 22.16% higher than SMA200.
Wellington Management Co. LLP acquired 13.57 million shares of The AZEK Company Inc. having value of about $423.5 million. Data submitted at the U.S SEC by Wellington Management Co. LLP revealed that the firm now holds 4.35 million shares in the company valued at close to $137720778.75, or have control over 47.09% stake in the company. The AZEK Company Inc. (NYSE: AZEK) currently have 150.14M outstanding shares and institutions hold larger chunk of about 102.86% of that. Holding of mutual funds in the company is about 5.03% while other institutional holders and individual stake holders have control over 70.42% and 30.34% of the stake respectively.
The stock has a current market capitalization of $4.82B and its 3Y-monthly beta is at 1.70. PE ratio of stock for trailing 12 months is 233.01, while it has posted earnings per share of $0.14 in the same period. Its PEG reads 20.99 and has Quick Ratio of 2.10 while making debt-to-equity ratio of 0.46. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AZEK, volatility over the week remained 2.56% while standing at 2.94% over the month.
Analysts are in expectations that The AZEK Company Inc. (AZEK) stock would likely to be making an EPS of $0.28 in the current quarter, while forecast for next quarter EPS is $0.08 and it is $1.02 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.22 which is $0.34 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.16 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -18.10% while it is estimated to increase by 50.97% in next year. EPS is likely to shrink at an annualized rate of 11.10% for next 5-years, compared to annual growth of 24.80% made by the stock over the past 5-years.
Analysts at 19 brokerage firms have issued recommendations for the The AZEK Company Inc. (AZEK)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.80. Out of those 19 Wall Street analysts, 14 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Loop Capital on April 24, 2023 offering a Buy rating for the stock and assigned a target price range of between $27 and $33 to it.