The AZEK Company Inc. (NYSE:AZEK) Stock Holdings Lessened by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC cut its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 5.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 940,512 shares of the company’s stock after selling 51,236 shares during the quarter. Stephens Investment Management Group LLC’s holdings in AZEK were worth $44,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AZEK. Congress Asset Management Co. boosted its position in shares of AZEK by 15.5% in the 3rd quarter. Congress Asset Management Co. now owns 327,298 shares of the company’s stock valued at $15,318,000 after purchasing an additional 43,984 shares during the period. Diversify Wealth Management LLC lifted its stake in AZEK by 14.6% during the third quarter. Diversify Wealth Management LLC now owns 10,339 shares of the company’s stock valued at $484,000 after buying an additional 1,317 shares in the last quarter. Lecap Asset Management Ltd. boosted its holdings in shares of AZEK by 16.3% in the third quarter. Lecap Asset Management Ltd. now owns 47,308 shares of the company’s stock worth $2,214,000 after buying an additional 6,615 shares during the period. Private Advisor Group LLC purchased a new position in shares of AZEK in the third quarter worth approximately $243,000. Finally, Raymond James & Associates raised its holdings in shares of AZEK by 6.4% during the third quarter. Raymond James & Associates now owns 129,371 shares of the company’s stock valued at $6,055,000 after acquiring an additional 7,748 shares during the period. 97.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. The Goldman Sachs Group decreased their price objective on shares of AZEK from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Benchmark reaffirmed a “buy” rating and issued a $55.00 target price on shares of AZEK in a research report on Friday, August 9th. Stifel Nicolaus dropped their price target on AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Barclays reduced their price objective on AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, 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. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.12.

AZEK Stock Performance

Shares of AZEK opened at $44.01 on Friday. The company has a quick ratio of 2.11, a current ratio of 3.07 and a debt-to-equity ratio of 0.41. The AZEK Company Inc. has a 12 month low of $25.73 and a 12 month high of $50.78. The company’s fifty day moving average is $43.93 and its 200-day moving average is $44.18. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of 38.95, a price-to-earnings-growth ratio of 1.15 and a beta of 1.88.

AZEK (NYSE:AZEK) last posted its earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $434.40 million for the quarter, compared to analyst estimates of $396.89 million. AZEK had a return on equity of 13.38% and a net margin of 11.35%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. Equities analysts expect that The AZEK Company Inc. will post 1.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $41.47, for a total value of $829,400.00. Following the transaction, the chief executive officer now owns 186,705 shares in the company, valued at $7,742,656.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $41.47, for a total value of $829,400.00. Following the transaction, the chief executive officer now directly owns 186,705 shares of the company’s stock, valued at $7,742,656.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Pamela J. Edwards acquired 600 shares of AZEK stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $41.70 per share, with a total value of $25,020.00. Following the completion of the transaction, the director now directly owns 8,708 shares of the company’s stock, valued at $363,123.60. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.10% 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.