AZEK (NYSE:AZEK) Stock Price Expected to Rise, Barclays Analyst Says

AZEK (NYSE:AZEK) had its price objective lifted by equities research analysts at Barclays from $58.00 to $64.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 18.58% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Truist Financial upped their target price on shares of 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 price objective on AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Benchmark reissued a “buy” rating and issued a $55.00 target price on shares of AZEK in a report on Thursday, November 21st. Loop Capital downgraded AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target for the company. in a report on Friday, October 4th. Finally, DA Davidson boosted their price objective on shares of AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $52.13.

AZEK Stock Performance

Shares of AZEK opened at $53.97 on Wednesday. The company’s 50 day simple moving average is $47.46 and its 200-day simple moving average is $44.98. The firm has a market cap of $7.72 billion, a PE ratio of 51.89, a price-to-earnings-growth ratio of 2.39 and a beta of 1.92. AZEK has a 12-month low of $34.96 and a 12-month high of $54.91. The company has a current ratio of 2.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AZEK. Vaughan Nelson Investment Management L.P. lifted its stake in shares of AZEK by 15.9% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 734,446 shares of the company’s stock valued at $30,942,000 after buying an additional 100,719 shares during the period. WCM Investment Management LLC boosted its position in shares of 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 buying an additional 11,770 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in AZEK by 8.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 671,267 shares of the company’s stock valued at $31,415,000 after acquiring an additional 50,230 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in AZEK by 105.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,798 shares of the company’s stock worth $2,845,000 after buying an additional 31,193 shares during the period. Finally, Algert Global LLC increased its position in shares of AZEK by 18.5% during the third quarter. Algert Global LLC now owns 119,453 shares of the company’s stock worth $5,590,000 after acquiring an additional 18,690 shares during the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.

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.