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

Stephens Investment Management Group LLC cut its position in The AZEK Company Inc. (NYSE:AZEK) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 940,512 shares of the company’s stock after selling 51,236 shares during the quarter. Stephens Investment Management Group LLC owned 0.65% of AZEK worth $44,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. ORG Wealth Partners LLC purchased a new stake in AZEK during the 3rd quarter worth approximately $31,000. ORG Partners LLC acquired a new stake in shares of AZEK during the first quarter worth approximately $35,000. Whittier Trust Co. bought a new stake in shares of AZEK in the first quarter worth $37,000. Paladin Wealth LLC acquired a new stake in AZEK in the third quarter valued at $39,000. Finally, Blue Trust Inc. boosted its stake in AZEK by 106.4% during the 3rd 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. 97.44% of the stock is owned by institutional investors and hedge funds.

AZEK Price Performance

Shares of NYSE:AZEK opened at $44.01 on Friday. The company has a current ratio of 3.07, a quick ratio of 2.11 and a debt-to-equity ratio of 0.41. The firm’s 50 day moving average is $43.93 and its two-hundred day moving average is $44.18. The firm has a market capitalization of $6.37 billion, a P/E ratio of 38.95, a PEG ratio of 1.15 and a beta of 1.88. The AZEK Company Inc. has a 52 week low of $25.73 and a 52 week high of $50.78.

AZEK (NYSE:AZEK) last announced 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. AZEK had a return on equity of 13.38% and a net margin of 11.35%. The firm had revenue of $434.40 million for the quarter, compared to the consensus estimate of $396.89 million. During the same quarter in the previous year, the business earned $0.29 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts anticipate that The AZEK Company Inc. will post 1.05 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 186,705 shares in the company, valued at $7,742,656.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Jesse G. Singh sold 20,000 shares of the company’s 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 in the company, valued at $7,742,656.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Pamela J. Edwards bought 600 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $41.70 per share, for a total transaction of $25,020.00. Following the completion of the acquisition, the director now 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. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AZEK shares. The Goldman Sachs Group cut their target price on shares of AZEK from $56.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Barclays reduced their target price on AZEK from $58.00 to $52.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Royal Bank of Canada lowered their price target on AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. BMO Capital Markets upped their price target on AZEK from $46.00 to $49.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.12.

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.