The Goldman Sachs Group Forecasts Strong Price Appreciation for AZEK (NYSE:AZEK) Stock

AZEK (NYSE:AZEK) had its price objective upped by analysts at The Goldman Sachs Group from $52.00 to $59.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 10.16% from the company’s current price.

A number of other equities research analysts also recently commented on AZEK. Barclays raised their price objective on shares of AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets lifted their price target on AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Robert W. Baird upped their price objective on AZEK from $52.00 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Loop Capital downgraded AZEK from a “buy” rating to a “hold” rating and set a $47.00 target price for the company. in a report on Friday, October 4th. Finally, Benchmark reaffirmed a “buy” rating and set a $55.00 price target on shares of AZEK in a research note on Thursday, November 21st. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.67.

AZEK Stock Down 0.7 %

Shares of AZEK stock opened at $53.56 on Thursday. The company has a market cap of $7.66 billion, a P/E ratio of 51.50, a PEG ratio of 2.40 and a beta of 1.92. The firm has a fifty day moving average of $47.66 and a two-hundred day moving average of $45.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 2.17. AZEK has a one year low of $35.38 and a one year high of $54.91.

Institutional Trading of AZEK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Equitable Trust Co. lifted its stake in shares of AZEK by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 10,346 shares of the company’s stock worth $484,000 after purchasing an additional 226 shares during the period. Creative Planning lifted its position in AZEK by 6.6% during the third quarter. Creative Planning now owns 6,987 shares of the company’s stock worth $327,000 after buying an additional 430 shares during the period. Covestor Ltd boosted its stake in AZEK by 18.8% in the 3rd quarter. Covestor Ltd now owns 2,758 shares of the company’s stock worth $129,000 after buying an additional 436 shares during the last quarter. Blue Trust Inc. grew its holdings in AZEK by 106.4% in the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after buying an additional 480 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of AZEK by 183.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock valued at $35,000 after acquiring an additional 487 shares during the last quarter. Hedge funds and other institutional investors own 97.44% 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.