Rhumbline Advisers Purchases 12,266 Shares of The AZEK Company Inc. (NYSE:AZEK)

Rhumbline Advisers increased its holdings in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 7.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,266 shares of the company's stock after purchasing an additional 12,266 shares during the quarter. Rhumbline Advisers owned approximately 0.12% of AZEK worth $8,324,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Empowered Funds LLC bought a new position in shares of AZEK in the fourth quarter valued at $27,000. FIL Ltd bought a new position in shares of AZEK during the 4th quarter worth approximately $28,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of AZEK by 623.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company's stock worth $33,000 after acquiring an additional 592 shares during the last quarter. Parallel Advisors LLC raised its stake in AZEK by 261.4% in the 1st quarter. Parallel Advisors LLC now owns 683 shares of the company's stock valued at $33,000 after acquiring an additional 494 shares during the period. Finally, Avalon Trust Co bought a new stake in AZEK in the 4th quarter valued at $38,000. Institutional investors own 97.44% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. BMO Capital Markets lifted their target price on shares of AZEK from $54.00 to $57.00 and gave the stock a "market perform" rating in a report on Monday, March 24th. Loop Capital reduced their price objective on AZEK from $55.00 to $49.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Robert W. Baird upped their target price on AZEK from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. UBS Group lowered their target price on AZEK from $55.00 to $51.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, Citigroup restated a "neutral" rating and issued a $51.50 price target (down from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, AZEK has an average rating of "Hold" and a consensus target price of $53.93.

AZEK Price Performance

Shares of NYSE:AZEK traded down $0.09 during midday trading on Thursday, hitting $54.16. The stock had a trading volume of 2,395,029 shares, compared to its average volume of 2,400,771. The company's 50-day moving average price is $49.57 and its 200-day moving average price is $48.91. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $7.79 billion, a P/E ratio of 54.71, a price-to-earnings-growth ratio of 1.91 and a beta of 1.82.

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

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction that occurred 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 now directly owns 852,765 shares of the company's stock, 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 SEC, which is available through this hyperlink. 3.20% of the stock is owned by insiders.

AZEK Company 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.