Stephens Investment Management Group LLC Lowers Holdings in The AZEK Company Inc. (NYSE:AZEK)

Stephens Investment Management Group LLC decreased its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 5.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 940,512 shares of the company's stock after selling 51,236 shares during the period. Stephens Investment Management Group LLC owned 0.65% of AZEK worth $44,016,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Congress Asset Management Co. increased its stake in AZEK by 15.5% in the 3rd quarter. Congress Asset Management Co. now owns 327,298 shares of the company's stock worth $15,318,000 after acquiring an additional 43,984 shares during the last quarter. Diversify Wealth Management LLC increased its stake in AZEK by 14.6% in the 3rd quarter. Diversify Wealth Management LLC now owns 10,339 shares of the company's stock worth $484,000 after acquiring an additional 1,317 shares during the last quarter. Lecap Asset Management Ltd. increased its stake in AZEK by 16.3% in the 3rd quarter. Lecap Asset Management Ltd. now owns 47,308 shares of the company's stock worth $2,214,000 after acquiring an additional 6,615 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of AZEK during the 3rd quarter valued at about $243,000. Finally, Raymond James & Associates increased its position in shares of AZEK by 6.4% during the 3rd quarter. Raymond James & Associates now owns 129,371 shares of the company's stock valued at $6,055,000 after purchasing an additional 7,748 shares during the last quarter. Hedge funds and other institutional investors own 97.44% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price objective on AZEK from $52.00 to $48.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 13th. 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 research report on Tuesday, October 22nd. UBS Group reduced their price target on AZEK from $47.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. Loop Capital lowered AZEK from a "buy" rating to a "hold" rating and set a $47.00 price target on the stock. in a research report on Friday, October 4th. Finally, Benchmark restated a "buy" rating and set a $55.00 price target on shares of AZEK in a research report on Friday, August 9th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $48.12.

AZEK Stock Up 0.4 %

Shares of AZEK traded up $0.16 on Friday, reaching $44.16. The stock had a trading volume of 899,915 shares, compared to its average volume of 1,717,129. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 38.95, a price-to-earnings-growth ratio of 1.15 and a beta of 1.88. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07. The company has a 50-day simple moving average of $43.93 and a 200-day simple moving average of $44.18. The AZEK Company Inc. has a 12-month low of $27.12 and a 12-month high of $50.78.

AZEK (NYSE:AZEK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. AZEK had a return on equity of 13.38% and a net margin of 11.35%. The company had revenue of $434.40 million during the quarter, compared to analyst estimates of $396.89 million. During the same quarter last year, the company earned $0.29 EPS. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. Sell-side analysts predict that The AZEK Company Inc. will post 1.05 EPS for the current year.

Insider Activity at AZEK

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

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.