Congress Asset Management Co. Acquires 53,985 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 16.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 381,283 shares of the company's stock after purchasing an additional 53,985 shares during the period. Congress Asset Management Co. owned approximately 0.27% of AZEK worth $18,100,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AZEK. WCM Investment Management LLC lifted its holdings in AZEK by 2.2% in the third quarter. WCM Investment Management LLC now owns 539,494 shares of the company's stock worth $25,232,000 after purchasing an additional 11,770 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of AZEK by 8.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 671,267 shares of the company's stock worth $31,415,000 after buying an additional 50,230 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of AZEK by 105.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,798 shares of the company's stock worth $2,845,000 after acquiring an additional 31,193 shares during the period. State Street Corp boosted its holdings in shares of AZEK by 1.9% in the third quarter. State Street Corp now owns 2,451,483 shares of the company's stock valued at $114,729,000 after acquiring an additional 45,774 shares in the last quarter. Finally, Algert Global LLC increased its stake in shares of AZEK by 18.5% during the third quarter. Algert Global LLC now owns 119,453 shares of the company's stock valued at $5,590,000 after acquiring an additional 18,690 shares during the period. Institutional investors own 97.44% of the company's stock.

Analyst Ratings Changes

AZEK has been the subject of a number of research reports. Barclays increased their price target on AZEK from $58.00 to $64.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Royal Bank of Canada raised their target price on AZEK from $50.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Citigroup upgraded shares of AZEK from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $51.00 to $60.00 in a research report on Monday, January 6th. Truist Financial raised their price objective on shares of AZEK from $52.00 to $57.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th. Finally, BMO Capital Markets lifted their price objective on shares of AZEK from $52.00 to $54.00 and gave the stock a "market perform" rating in a research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $54.85.

AZEK Trading Down 3.4 %

AZEK stock traded down $1.69 during midday trading on Thursday, reaching $48.21. The stock had a trading volume of 2,627,237 shares, compared to its average volume of 1,587,362. The firm's fifty day simple moving average is $49.63 and its two-hundred day simple moving average is $46.75. 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 AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 48.69, a PEG ratio of 2.10 and a beta of 1.94.

AZEK (NYSE:AZEK - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. Equities analysts anticipate that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

Insider Activity

In other AZEK news, CEO Jesse G. Singh sold 19,613 shares of AZEK stock in a transaction on Friday, January 10th. The shares were sold at an average price of $44.98, for a total transaction of $882,192.74. Following the completion of the sale, the chief executive officer now owns 904,152 shares of the company's stock, valued at $40,668,756.96. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO Samara Toole sold 1,709 shares of the company's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total transaction of $90,577.00. Following the completion of the transaction, the chief marketing officer now directly owns 16,632 shares in the company, valued at $881,496. This trade represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,709 shares of company stock worth $3,060,151 in the last 90 days. Company insiders own 3.20% of the company's stock.

About AZEK

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.