DA Davidson Issues Positive Forecast for AZEK (NYSE:AZEK) Stock Price

AZEK (NYSE:AZEK) had its price objective raised by DA Davidson from $44.00 to $50.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock. DA Davidson also issued estimates for AZEK’s FY2025 earnings at $1.57 EPS.

Several other equities analysts have also recently issued reports on AZEK. Robert W. Baird boosted their price target on AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday. Benchmark restated a “buy” rating and set a $55.00 price target on shares of AZEK in a research note on Friday, August 9th. Truist Financial lowered their price objective on shares of AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets boosted their price objective on shares of AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, Royal Bank of Canada reduced their target price on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, AZEK presently has an average rating of “Moderate Buy” and an average target price of $49.24.

AZEK Trading Up 2.3 %

Shares of AZEK stock opened at $50.98 on Wednesday. The company’s fifty day moving average is $45.41 and its two-hundred day moving average is $44.28. AZEK has a 1 year low of $31.16 and a 1 year 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 PEG ratio of 2.23 and a beta of 1.88.

Hedge Funds Weigh In On AZEK

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Equitable Trust Co. raised 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 buying an additional 226 shares during the last quarter. Tidal Investments LLC raised its position in AZEK by 3.7% during the first quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock worth $355,000 after acquiring an additional 251 shares during the last quarter. Creative Planning lifted its holdings in shares of AZEK by 6.6% in the third quarter. Creative Planning now owns 6,987 shares of the company’s stock valued at $327,000 after purchasing an additional 430 shares in the last quarter. Covestor Ltd lifted its holdings in shares of AZEK by 18.8% in the third quarter. Covestor Ltd now owns 2,758 shares of the company’s stock valued at $129,000 after purchasing an additional 436 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of AZEK by 106.4% in the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after purchasing an additional 480 shares during the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.

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.