AZEK (NYSE:AZEK) Shares Up 0.4% on Analyst Upgrade

Shares of The AZEK Company Inc. (NYSE:AZEK) traded up 0.4% during mid-day trading on Friday after Barclays raised their price target on the stock from $53.00 to $58.00. Barclays currently has an overweight rating on the stock. AZEK traded as high as $50.75 and last traded at $50.03. 964,421 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 1,695,113 shares. The stock had previously closed at $49.81.

A number of other equities research analysts have also recently weighed in on AZEK. Truist Financial lifted their price target on shares of AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird lifted their price target on shares of AZEK from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday. Loop Capital downgraded shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price objective for the company. in a research report on Friday, October 4th. BMO Capital Markets lifted their target price on shares of AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, DA Davidson lifted their target price on shares of AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, AZEK currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.24.

Institutional Investors Weigh In On AZEK

A number of large investors have recently added to or reduced their stakes in AZEK. Vanguard Group Inc. grew its stake in AZEK by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock valued at $677,082,000 after acquiring an additional 413,297 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in AZEK in the 1st quarter valued at about $439,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of AZEK during the 1st quarter worth about $285,000. CANADA LIFE ASSURANCE Co boosted its stake in shares of AZEK by 180.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 36,912 shares of the company’s stock worth $1,856,000 after purchasing an additional 23,746 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of AZEK during the 1st quarter worth about $380,000. 97.44% of the stock is owned by institutional investors and hedge funds.

AZEK Price Performance

The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of 49.02, a PEG ratio of 1.20 and a beta of 1.88. The company’s 50 day simple moving average is $45.41 and its 200-day simple moving average is $44.29. The company has a current ratio of 3.07, a quick ratio of 2.11 and a debt-to-equity ratio of 0.41.

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.