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

Shares of The AZEK Company Inc. (NYSE:AZEK) hit a new 52-week high during trading on Thursday after The Goldman Sachs Group raised their price target on the stock from $52.00 to $59.00. The Goldman Sachs Group currently has a buy rating on the stock. AZEK traded as high as $54.91 and last traded at $54.40, with a volume of 32523 shares traded. The stock had previously closed at $54.76.

Several other brokerages have also recently issued reports on AZEK. Royal Bank of Canada increased their price objective on AZEK from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. DA Davidson increased their price target on AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Truist Financial lifted 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. JPMorgan Chase & Co. increased their target price on shares of AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, Loop Capital cut shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target for the company. in a research report on Friday, October 4th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.13.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC acquired a new position in AZEK during the 3rd quarter valued at approximately $31,000. Farther Finance Advisors LLC grew its holdings in shares of AZEK by 183.1% during the third quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock valued at $35,000 after buying an additional 487 shares during the last quarter. Paladin Wealth LLC acquired a new position in shares of AZEK in the 3rd quarter valued at $39,000. Blue Trust Inc. raised its stake in AZEK by 106.4% in the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after acquiring an additional 480 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in AZEK during the 3rd quarter worth about $59,000. 97.44% of the stock is owned by institutional investors and hedge funds.

AZEK Trading Down 1.4 %

The company has a 50 day simple moving average of $47.46 and a two-hundred day simple moving average of $44.98. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 2.17. The firm has a market cap of $7.72 billion, a PE ratio of 51.89, a P/E/G ratio of 2.39 and a beta of 1.92.

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.