Congress Asset Management Co. Buys 45,916 Shares of The AZEK Company Inc. (NYSE:AZEK)

Congress Asset Management Co. grew its position in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 427,199 shares of the company's stock after purchasing an additional 45,916 shares during the period. Congress Asset Management Co. owned about 0.30% of AZEK worth $20,886,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in AZEK by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company's stock worth $685,032,000 after purchasing an additional 54,725 shares during the last quarter. FMR LLC increased its position in AZEK by 80.7% in the 4th quarter. FMR LLC now owns 12,311,577 shares of the company's stock worth $584,431,000 after purchasing an additional 5,499,986 shares during the last quarter. Alliancebernstein L.P. increased its position in AZEK by 15.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company's stock worth $156,396,000 after purchasing an additional 429,574 shares during the last quarter. Wasatch Advisors LP increased its position in AZEK by 11.6% in the 4th quarter. Wasatch Advisors LP now owns 2,084,014 shares of the company's stock worth $98,928,000 after purchasing an additional 216,849 shares during the last quarter. Finally, Norges Bank acquired a new position in AZEK in the 4th quarter worth about $94,987,000. 97.44% of the stock is owned by institutional investors and hedge funds.

AZEK Stock Performance

AZEK traded down $0.88 during midday trading on Friday, reaching $52.82. The company's stock had a trading volume of 3,387,611 shares, compared to its average volume of 2,365,799. The stock has a market cap of $7.60 billion, a P/E ratio of 53.35, a PEG ratio of 1.91 and a beta of 1.82. The company has a fifty day simple moving average of $49.00 and a 200 day simple moving average of $48.81. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91.

AZEK (NYSE:AZEK - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. AZEK had a return on equity of 13.47% and a net margin of 9.85%. The company had revenue of $452.23 million for the quarter, compared to analyst estimates of $444.75 million. During the same quarter last year, the firm earned $0.39 EPS. AZEK's revenue for the quarter was up 8.1% compared to the same quarter last year. Research analysts expect that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Robert W. Baird upped their target price on AZEK from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Citigroup reissued a "neutral" rating and set a $51.50 price objective (down previously from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Baird R W lowered AZEK from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Raymond James set a $51.50 price objective on AZEK in a report on Tuesday, March 25th. Finally, Barclays increased their price objective on AZEK from $53.00 to $57.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $53.93.

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 15,000 shares of AZEK stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $41.03, for a total transaction of $615,450.00. Following the sale, the chief executive officer now owns 868,765 shares of the company's stock, valued at approximately $35,645,427.95. This trade represents a 1.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is owned by insiders.

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.