Congress Asset Management Co. MA Grows Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Congress Asset Management Co. MA raised its position in The AZEK Company Inc. (NYSE:AZEK) by 26.3% in the 1st quarter, Holdings Channel reports. The fund owned 237,326 shares of the company’s stock after purchasing an additional 49,460 shares during the period. Congress Asset Management Co. MA’s holdings in AZEK were worth $11,919,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. UBS Group AG grew its holdings in AZEK by 245.4% during the 3rd quarter. UBS Group AG now owns 70,594 shares of the company’s stock valued at $2,099,000 after purchasing an additional 50,158 shares in the last quarter. Rhumbline Advisers grew its stake in shares of AZEK by 6.8% during the third quarter. Rhumbline Advisers now owns 146,293 shares of the company’s stock valued at $4,351,000 after acquiring an additional 9,335 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of AZEK by 85.8% during the third quarter. PNC Financial Services Group Inc. now owns 23,024 shares of the company’s stock worth $685,000 after acquiring an additional 10,635 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of AZEK in the third quarter worth about $200,000. Finally, Rafferty Asset Management LLC boosted its holdings in AZEK by 35.3% in the third quarter. Rafferty Asset Management LLC now owns 35,985 shares of the company’s stock valued at $1,070,000 after purchasing an additional 9,380 shares during the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

AZEK Stock Down 4.8 %

NYSE:AZEK opened at $44.50 on Friday. The company has a current ratio of 3.40, a quick ratio of 1.67 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average of $46.18 and a 200-day moving average of $44.03. The firm has a market capitalization of $6.57 billion, a PE ratio of 43.63, a price-to-earnings-growth ratio of 1.46 and a beta of 1.91. The AZEK Company Inc. has a 52 week low of $25.03 and a 52 week high of $50.78.

Wall Street Analyst Weigh In

Several research firms have issued reports on AZEK. Barclays lifted their price objective on AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Robert W. Baird dropped their price target on shares of AZEK from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Truist Financial reiterated a “buy” rating and set a $57.00 price objective on shares of AZEK in a research note on Tuesday, June 18th. 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. Finally, Benchmark initiated coverage on shares of AZEK in a research note on Friday, April 19th. They issued a “buy” rating and a $55.00 target price on the stock. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, AZEK currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.33.

Insider Activity at AZEK

In other AZEK news, insider Jonathan Skelly sold 12,000 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total value of $560,640.00. Following the sale, the insider now directly owns 190,134 shares of the company’s stock, valued at $8,883,060.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $45.97, for a total transaction of $597,610.00. Following the sale, the chief executive officer now owns 1,070,444 shares of the company’s stock, valued at $49,208,310.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jonathan Skelly sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total value of $560,640.00. Following the transaction, the insider now owns 190,134 shares of the company’s stock, valued at $8,883,060.48. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock worth $1,786,150 in the last 90 days. 3.10% of the stock is currently owned by company 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.