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Calamos Advisors LLC Makes New Investment in The AZEK Company Inc. (NYSE:AZEK)

AZEK logo with Construction background

Calamos Advisors LLC purchased a new position in The AZEK Company Inc. (NYSE:AZEK - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 177,720 shares of the company's stock, valued at approximately $8,689,000. Calamos Advisors LLC owned 0.12% of AZEK as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. CIBRA Capital Ltd purchased a new stake in shares of AZEK in the first quarter valued at $4,442,000. Summit Trail Advisors LLC acquired a new stake in AZEK during the 1st quarter worth $402,000. Peregrine Capital Management LLC lifted its position in AZEK by 2.3% in the first quarter. Peregrine Capital Management LLC now owns 186,083 shares of the company's stock valued at $9,098,000 after buying an additional 4,190 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of AZEK by 52.4% during the first quarter. Bessemer Group Inc. now owns 424,382 shares of the company's stock worth $20,748,000 after buying an additional 145,849 shares during the period. Finally, Valmark Advisers Inc. acquired a new stake in shares of AZEK in the first quarter valued at approximately $795,000. Institutional investors own 97.44% of the company's stock.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the sale, the chief executive officer directly owned 852,765 shares in the company, valued at approximately $43,832,121. The trade was a 2.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AZEK shares. UBS Group cut their target price on shares of AZEK from $55.00 to $51.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Barclays raised their target price on shares of AZEK from $53.00 to $57.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Raymond James Financial set a $51.50 price target on shares of AZEK in a research report on Tuesday, March 25th. Wolfe Research reissued a "peer perform" rating on shares of AZEK in a report on Wednesday, March 26th. Finally, Robert W. Baird lifted their price objective on shares of AZEK from $48.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $53.93.

View Our Latest Stock Analysis on AZEK

AZEK Stock Performance

Shares of NYSE AZEK remained flat at $54.35 during mid-day trading on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.45 and a quick ratio of 1.47. The AZEK Company Inc. has a 52-week low of $35.48 and a 52-week high of $54.91. The business's 50-day simple moving average is $51.73 and its two-hundred day simple moving average is $48.95. The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of 53.28 and a beta of 1.82.

AZEK (NYSE:AZEK - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. AZEK had a net margin of 9.92% and a return on equity of 13.87%. The business had revenue of $452.23 million during the quarter, compared to analyst estimates of $444.75 million. During the same quarter last year, the firm posted $0.39 earnings per share. The business's revenue for the quarter was up 8.1% compared to the same quarter last year. On average, research analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

About AZEK

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for AZEK (NYSE:AZEK)

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