AZEK (NYSE:AZEK) Given New $50.00 Price Target at Royal Bank of Canada

AZEK (NYSE:AZEK) had its target price hoisted by Royal Bank of Canada from $46.00 to $50.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also weighed in on the company. JPMorgan Chase & Co. decreased their price target on AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. BMO Capital Markets lifted their price target on shares of AZEK from $49.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday. Truist Financial reduced their price objective on shares of AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. DA Davidson boosted their target price on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Stifel Nicolaus reduced their price target on AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AZEK presently has a consensus rating of “Moderate Buy” and an average price target of $49.24.

AZEK Trading Up 2.3 %

AZEK opened at $50.98 on Wednesday. AZEK has a 12 month low of $31.16 and a 12 month high of $51.03. The company has a current ratio of 2.17, a quick ratio of 2.11 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $45.41 and a 200 day moving average of $44.28. The firm has a market cap of $7.38 billion, a P/E ratio of 49.02, a P/E/G ratio of 2.23 and a beta of 1.88.

Institutional Trading of AZEK

A number of institutional investors have recently modified their holdings of AZEK. Wellington Management Group LLP lifted its position in AZEK by 33.8% during the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after acquiring an additional 3,595,863 shares during the last quarter. FMR LLC increased its position in shares of AZEK by 57.9% during the third quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after purchasing an additional 2,497,074 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of AZEK during the second quarter worth $86,719,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of AZEK by 66.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock valued at $73,631,000 after purchasing an additional 587,107 shares during the last quarter. Finally, Interval Partners LP boosted its position in shares of AZEK by 162.4% in the 2nd quarter. Interval Partners LP now owns 742,749 shares of the company’s stock worth $31,292,000 after purchasing an additional 459,664 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors.

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.