AZEK (NYSE:AZEK) Price Target Raised to $57.00

AZEK (NYSE:AZEK) had its price target hoisted 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.

Several other brokerages have also recently commented on AZEK. 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 note on Wednesday. UBS Group cut their target price on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. DA Davidson lifted their price target on AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday. Benchmark restated a “buy” rating and set a $55.00 price objective on shares of AZEK in a research report on Friday, August 9th. Finally, Stifel Nicolaus dropped their target price on AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, AZEK has an average rating of “Moderate Buy” and a consensus price target of $49.24.

AZEK Trading Up 2.3 %

AZEK stock opened at $50.98 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.07 and a quick ratio of 2.11. The firm’s 50 day moving average price is $45.41 and its 200-day moving average price is $44.29. AZEK has a 1 year low of $31.16 and a 1 year high of $51.03. The stock has a market cap of $7.38 billion, a P/E ratio of 49.02, a PEG ratio of 1.20 and a beta of 1.88.

Institutional Trading of AZEK

A number of large investors have recently made changes to their positions in AZEK. Wellington Management Group LLP lifted its holdings in AZEK by 33.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after buying an additional 3,595,863 shares in the last quarter. FMR LLC increased its position in shares of AZEK by 57.9% during the third 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 purchased a new stake in shares of AZEK in the second quarter valued at approximately $86,719,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 purchasing an additional 587,107 shares during the period. Finally, Interval Partners LP increased its holdings in AZEK by 162.4% during the 2nd quarter. Interval Partners LP now owns 742,749 shares of the company’s stock worth $31,292,000 after purchasing an additional 459,664 shares during the period. 97.44% of the stock is owned by hedge funds and other institutional investors.

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.