Calamos Advisors LLC Cuts Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Calamos Advisors LLC trimmed its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 67.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,062 shares of the company’s stock after selling 66,808 shares during the period. Calamos Advisors LLC’s holdings in AZEK were worth $1,226,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in shares of AZEK by 35.2% during the first quarter. PNC Financial Services Group Inc. now owns 11,990 shares of the company’s stock worth $299,000 after purchasing an additional 3,124 shares in the last quarter. Natixis Advisors L.P. acquired a new position in AZEK during the 1st quarter worth approximately $1,468,000. Bank of Montreal Can lifted its position in AZEK by 155.0% during the 1st quarter. Bank of Montreal Can now owns 22,887 shares of the company’s stock worth $602,000 after acquiring an additional 13,910 shares in the last quarter. MetLife Investment Management LLC purchased a new position in AZEK in the 1st quarter worth approximately $124,000. Finally, Dimensional Fund Advisors LP grew its position in AZEK by 113.5% in the first quarter. Dimensional Fund Advisors LP now owns 724,014 shares of the company’s stock valued at $17,989,000 after acquiring an additional 384,936 shares in the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Citigroup boosted their target price on shares of AZEK from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. BMO Capital Markets lifted their target price on AZEK from $39.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. B. Riley boosted their price target on AZEK from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Stephens raised their price objective on AZEK from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Finally, Robert W. Baird lifted their price objective on AZEK from $52.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $44.11.

AZEK Trading Down 1.3 %

AZEK stock opened at $44.72 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.67 and a current ratio of 2.99. The AZEK Company Inc. has a 1 year low of $23.08 and a 1 year high of $50.78. The firm’s 50-day moving average is $47.77 and its 200-day moving average is $38.68. The company has a market cap of $6.61 billion, a P/E ratio of 56.61, a PEG ratio of 1.44 and a beta of 1.92.

AZEK (NYSE:AZEK) last issued its earnings results on Tuesday, February 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. AZEK had a net margin of 8.57% and a return on equity of 9.61%. The firm had revenue of $240.44 million for the quarter, compared to analysts’ expectations of $234.12 million. On average, equities analysts expect that The AZEK Company Inc. will post 1.03 earnings per share for the current year.

Insider Activity at AZEK

In other AZEK news, insider Jonathan Skelly sold 10,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $46.78, for a total value of $467,800.00. Following the completion of the transaction, the insider now owns 180,784 shares in the company, valued at approximately $8,457,075.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $48.30, for a total transaction of $627,900.00. Following the sale, the chief executive officer now directly owns 1,083,444 shares in the company, valued at approximately $52,330,345.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan Skelly sold 10,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $46.78, for a total transaction of $467,800.00. Following the completion of the transaction, the insider now owns 180,784 shares of the company’s stock, valued at $8,457,075.52. The disclosure for this sale can be found here. Insiders sold 130,431 shares of company stock worth $6,356,622 in the last 90 days. 3.10% of the stock is currently owned by company 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.