AZEK (NYSE:AZEK) Price Target Raised to $58.00

AZEK (NYSE:AZEK) had its price target lifted by Barclays from $53.00 to $58.00 in a report released on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research analysts have also weighed in on the company. Benchmark reissued a “buy” rating and set a $55.00 target price on shares of AZEK in a report on Friday, August 9th. Loop Capital cut 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. Truist Financial increased their price objective on shares of AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday. DA Davidson raised their target price on shares of AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Stifel Nicolaus decreased their price target on shares of AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.24.

AZEK Trading Up 2.3 %

Shares of NYSE:AZEK opened at $50.98 on Thursday. AZEK has a 52-week low of $31.16 and a 52-week high of $51.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.11 and a current ratio of 2.17. The company has a market capitalization of $7.38 billion, a P/E ratio of 49.02, a price-to-earnings-growth ratio of 2.23 and a beta of 1.88. The company has a 50-day simple moving average of $45.41 and a 200 day simple moving average of $44.28.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in AZEK by 33.8% during the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after buying an additional 3,595,863 shares in the last quarter. FMR LLC lifted its holdings in shares of AZEK by 57.9% during the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after acquiring an additional 2,497,074 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of AZEK during the 2nd quarter worth approximately $86,719,000. Price T Rowe Associates Inc. MD increased its stake in AZEK by 66.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock valued at $73,631,000 after acquiring an additional 587,107 shares during the last quarter. Finally, Interval Partners LP increased its stake in AZEK by 162.4% in the second quarter. Interval Partners LP now owns 742,749 shares of the company’s stock valued at $31,292,000 after acquiring an additional 459,664 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.