AZEK (NYSE:AZEK) Reaches New 1-Year High on Analyst Upgrade

The AZEK Company Inc. (NYSE:AZEK)’s stock price hit a new 52-week high during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $48.00 to $58.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. AZEK traded as high as $52.25 and last traded at $52.25, with a volume of 3108 shares trading hands. The stock had previously closed at $50.98.

Several other equities analysts also recently commented on AZEK. Robert W. Baird increased their price objective on shares of AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. BMO Capital Markets upped their price target on shares of AZEK from $49.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Truist Financial raised their price objective on AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Benchmark reaffirmed a “buy” rating and issued a $55.00 target price on shares of AZEK in a report on Thursday, November 21st. Finally, Royal Bank of Canada lifted their price target on AZEK from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.82.

Hedge Funds Weigh In On AZEK

Hedge funds have recently bought and sold shares of the company. Tidal Investments LLC grew its holdings in AZEK by 69.8% during the 3rd quarter. Tidal Investments LLC now owns 10,587 shares of the company’s stock worth $495,000 after acquiring an additional 4,352 shares during the period. Sanctuary Advisors LLC increased its stake in AZEK by 97.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 11,229 shares of the company’s stock valued at $572,000 after purchasing an additional 5,553 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of AZEK by 11.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 57,701 shares of the company’s stock worth $2,700,000 after acquiring an additional 5,815 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of AZEK by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company’s stock worth $109,105,000 after purchasing an additional 12,644 shares during the last quarter. Finally, M&T Bank Corp raised its position in AZEK by 140.5% in the 3rd quarter. M&T Bank Corp now owns 14,473 shares of the company’s stock valued at $677,000 after buying an additional 8,456 shares during the last quarter. Institutional investors own 97.44% of the company’s stock.

AZEK Stock Performance

The company’s fifty day moving average price is $45.59 and its 200 day moving average price is $44.33. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.14. The company has a market cap of $7.72 billion, a PE ratio of 51.29, a P/E/G ratio of 2.29 and a beta of 1.88.

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.