Truist Financial Issues Positive Forecast for AZEK (NYSE:AZEK) Stock Price

AZEK (NYSE:AZEK) had its price target raised by Truist Financial from $52.00 to $57.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. Royal Bank of Canada lifted their target price on AZEK from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday. Loop Capital lowered shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price objective on the stock. in a research report on Friday, October 4th. Robert W. Baird raised their target price on shares of AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday. BMO Capital Markets boosted their price target on shares of AZEK from $49.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of AZEK in a report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, AZEK has a consensus rating of “Moderate Buy” and a consensus price target of $49.24.

AZEK Stock Up 2.3 %

Shares of AZEK stock opened at $50.98 on Wednesday. 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 debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 2.11. The business has a 50-day moving average of $45.41 and a two-hundred day moving average of $44.28. AZEK has a 1 year low of $31.16 and a 1 year high of $51.03.

Hedge Funds Weigh In On AZEK

Hedge funds have recently added to or reduced their stakes in the stock. Equitable Trust Co. grew its holdings 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 in the last quarter. Tidal Investments LLC lifted 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 purchasing an additional 251 shares during the period. Creative Planning grew its stake 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 in the last quarter. Covestor Ltd increased its holdings in AZEK by 18.8% in the 3rd quarter. Covestor Ltd now owns 2,758 shares of the company’s stock valued at $129,000 after buying an additional 436 shares during the period. Finally, Blue Trust Inc. raised its position in shares of 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 in the last quarter. 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.