AZEK’s (AZEK) Buy Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of AZEK (NYSE:AZEK) in a report released on Thursday,Benzinga reports. The firm currently has a $55.00 target price on the stock.

Several other brokerages have also weighed in on AZEK. JPMorgan Chase & Co. dropped their target price on AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Royal Bank of Canada increased their price objective on shares of AZEK from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group reduced their target price on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Truist Financial upped their target price on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, 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 report on Wednesday. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, AZEK has an average rating of “Moderate Buy” and an average price target of $49.24.

AZEK Stock Performance

Shares of AZEK stock opened at $50.98 on Thursday. The company has a quick ratio of 2.11, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average of $45.41 and a two-hundred day moving average of $44.28. The company has a market cap of $7.38 billion, a P/E ratio of 49.02, a PEG ratio of 2.23 and a beta of 1.88. AZEK has a 52 week low of $31.16 and a 52 week high of $51.03.

Hedge Funds Weigh In On AZEK

Large investors have recently made changes to their positions in the business. ORG Wealth Partners LLC acquired a new stake in AZEK during the third quarter valued at approximately $31,000. Farther Finance Advisors LLC lifted its position 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. Paladin Wealth LLC bought a new stake in shares of AZEK during the 3rd quarter worth $39,000. Blue Trust Inc. grew its holdings in shares of AZEK by 106.4% in the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after acquiring an additional 480 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of AZEK by 5,452.2% during the second quarter. Versant Capital Management Inc now owns 1,277 shares of the company’s stock worth $54,000 after purchasing an additional 1,254 shares during the period. 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.