The AZEK Company Inc. (NYSE:AZEK) Shares Bought by Congress Asset Management Co.

Congress Asset Management Co. lifted its holdings in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 12.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 427,199 shares of the company's stock after acquiring an additional 45,916 shares during the period. Congress Asset Management Co. owned 0.30% of AZEK worth $20,886,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AZEK. Truist Financial Corp raised its holdings in AZEK by 1.6% during the fourth quarter. Truist Financial Corp now owns 16,706 shares of the company's stock worth $793,000 after purchasing an additional 255 shares in the last quarter. Investment House LLC raised its stake in AZEK by 0.7% during the 4th quarter. Investment House LLC now owns 39,255 shares of the company's stock worth $1,863,000 after acquiring an additional 290 shares in the last quarter. Federated Hermes Inc. lifted its position in AZEK by 4.8% in the fourth quarter. Federated Hermes Inc. now owns 6,984 shares of the company's stock valued at $332,000 after acquiring an additional 318 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in AZEK by 13.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company's stock valued at $146,000 after acquiring an additional 352 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its stake in AZEK by 4.9% during the 4th quarter. Integrated Wealth Concepts LLC now owns 8,171 shares of the company's stock worth $388,000 after buying an additional 379 shares during the last quarter. Hedge funds and other institutional investors own 97.44% of the company's stock.

AZEK Price Performance

Shares of AZEK stock traded down $0.24 during midday trading on Wednesday, reaching $54.23. 1,609,537 shares of the company traded hands, compared to its average volume of 2,390,968. The firm has a market cap of $7.80 billion, a PE ratio of 54.78, a price-to-earnings-growth ratio of 1.91 and a beta of 1.82. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The firm's 50 day simple moving average is $49.22 and its two-hundred day simple moving average is $48.87. The AZEK Company Inc. has a 1-year low of $35.48 and a 1-year high of $55.14.

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

Insider Buying and Selling at AZEK

In related news, CEO Jesse G. Singh sold 20,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the sale, the chief executive officer now owns 852,765 shares of the company's stock, valued at approximately $43,832,121. This represents a 2.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AZEK shares. Loop Capital reduced their price objective on AZEK from $55.00 to $49.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. UBS Group reduced their price target on shares of AZEK from $55.00 to $51.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Baird R W downgraded shares of AZEK from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Robert W. Baird upped their target price on shares of AZEK from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, Raymond James set a $51.50 target price on shares of AZEK in a research note on Tuesday, March 25th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, AZEK presently has an average rating of "Hold" and a consensus price target of $53.93.

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.