Stephens Investment Management Group LLC Sells 8,875 Shares of The AZEK Company Inc. (NYSE:AZEK)

Stephens Investment Management Group LLC cut its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 931,637 shares of the company's stock after selling 8,875 shares during the period. Stephens Investment Management Group LLC owned approximately 0.65% of AZEK worth $44,225,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AZEK. Wellington Management Group LLP increased its position in shares of AZEK by 33.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company's stock valued at $665,702,000 after purchasing an additional 3,595,863 shares during the period. FMR LLC boosted its stake in AZEK by 57.9% during the third quarter. FMR LLC now owns 6,811,591 shares of the company's stock valued at $318,782,000 after buying an additional 2,497,074 shares in the last quarter. State Street Corp grew its holdings in AZEK by 1.9% during the third quarter. State Street Corp now owns 2,451,483 shares of the company's stock worth $114,729,000 after acquiring an additional 45,774 shares during the period. Geode Capital Management LLC raised its position in AZEK by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company's stock worth $109,105,000 after acquiring an additional 12,644 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in AZEK by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company's stock valued at $93,564,000 after acquiring an additional 90,206 shares during the last quarter. Institutional investors and hedge funds own 97.44% of the company's stock.

Analyst Upgrades and Downgrades

AZEK has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of AZEK from $52.00 to $54.00 and gave the stock a "market perform" rating in a report on Thursday, February 6th. Barclays lifted their price target on shares of AZEK from $58.00 to $64.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. increased their price objective on AZEK from $48.00 to $58.00 and gave the company an "overweight" rating in a research report on Monday, November 25th. Citigroup upgraded AZEK from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $51.00 to $60.00 in a report on Monday, January 6th. Finally, Benchmark reaffirmed a "buy" rating and set a $55.00 target price on shares of AZEK in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, AZEK currently has a consensus rating of "Moderate Buy" and an average target price of $54.85.

AZEK Stock Down 2.3 %

Shares of AZEK stock traded down $1.16 during trading on Wednesday, hitting $49.07. 1,260,219 shares of the company were exchanged, compared to its average volume of 1,599,915. The business's 50-day simple moving average is $50.01 and its 200 day simple moving average is $46.55. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 49.57, a P/E/G ratio of 2.19 and a beta of 1.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 2.56.

AZEK (NYSE:AZEK - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. As a group, analysts forecast that The AZEK Company Inc. will post 1.29 EPS for the current fiscal year.

Insider Buying and Selling at AZEK

In other news, CMO Samara Toole sold 1,709 shares of AZEK stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $53.00, for a total value of $90,577.00. Following the transaction, the chief marketing officer now owns 16,632 shares of the company's stock, valued at $881,496. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jesse G. Singh sold 19,613 shares of the business's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $44.98, for a total transaction of $882,192.74. Following the completion of the sale, the chief executive officer now owns 904,152 shares of the company's stock, valued at $40,668,756.96. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,709 shares of company stock worth $3,060,151 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

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.