Stephens Investment Management Group LLC purchased a new position in AZEK (NASDAQ:AZEK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 402,048 shares of the company’s stock, valued at approximately $12,809,000. Stephens Investment Management Group LLC owned about 0.28% of AZEK at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in AZEK. Strs Ohio purchased a new position in shares of AZEK in the 2nd quarter worth $3,045,000. Columbus Circle Investors purchased a new position in shares of AZEK in the 2nd quarter worth $625,000. Calamos Advisors LLC purchased a new position in shares of AZEK in the 2nd quarter worth $839,000. Emerald Mutual Fund Advisers Trust purchased a new position in AZEK during the second quarter valued at $12,377,000. Finally, Emerald Advisers LLC purchased a new position in AZEK during the second quarter valued at $13,520,000.
Shares of AZEK stock traded up $0.24 during trading hours on Wednesday, hitting $34.18. The stock had a trading volume of 39,431 shares, compared to its average volume of 1,018,345. AZEK has a one year low of $26.35 and a one year high of $42.16. The business has a 50-day simple moving average of $36.84.
AZEK (NASDAQ:AZEK) last issued its earnings results on Thursday, August 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). The firm had revenue of $223.71 million during the quarter, compared to analysts’ expectations of $209.31 million.
In other AZEK news, insider Dennis M. Kitchen sold 25,300 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $33.25, for a total transaction of $841,225.00. Following the sale, the insider now directly owns 237,543 shares of the company’s stock, valued at $7,898,304.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jesse G. Singh sold 276,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $33.25, for a total value of $9,177,000.00. Following the sale, the chief executive officer now directly owns 2,286,417 shares in the company, valued at $76,023,365.25. The disclosure for this sale can be found here. Insiders sold 405,708 shares of company stock worth $13,489,791 over the last ninety days.
Several research firms recently weighed in on AZEK. Jefferies Financial Group began coverage on AZEK in a research report on Tuesday, July 7th. They set a “buy” rating and a $38.00 target price on the stock. Stephens began coverage on AZEK in a research report on Tuesday, July 7th. They set an “equal weight” rating and a $34.00 target price on the stock. Stifel Nicolaus began coverage on AZEK in a research report on Tuesday, July 7th. They set a “buy” rating and a $36.00 target price on the stock. Zacks Investment Research downgraded AZEK from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Credit Suisse Group lifted their target price on AZEK from $38.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $38.50.
The AZEK Company Inc engages in manufacturing and selling building products for residential, commercial, and industrial markets in the United States. Its products include trims, decks, porches, moldings, rails, pavers, and bathroom and locker systems, as well as extruded plastic sheet products and other non-fabricated products for special applications in industrial markets.
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