AZEK (NYSE:AZEK) Sets New 1-Year High – What’s Next?

The AZEK Company Inc. (NYSE:AZEK) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $54.69 and last traded at $54.65, with a volume of 72814 shares changing hands. The stock had previously closed at $53.48.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Truist Financial boosted their target price on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Loop Capital downgraded shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price objective for the company. in a report on Friday, October 4th. JPMorgan Chase & Co. boosted their target price on AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Robert W. Baird raised their price target on AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, Benchmark reaffirmed a “buy” rating and set a $55.00 price target on shares of AZEK in a research note on Thursday, November 21st. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.82.

AZEK Stock Performance

The firm has a market cap of $7.75 billion, a PE ratio of 52.13, a price-to-earnings-growth ratio of 2.36 and a beta of 1.92. The company has a quick ratio of 1.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The business has a 50 day simple moving average of $46.85 and a two-hundred day simple moving average of $44.77.

Institutional Trading of AZEK

Several institutional investors and hedge funds have recently modified their holdings of AZEK. ORG Wealth Partners LLC purchased a new stake in AZEK in the third quarter worth about $31,000. Farther Finance Advisors LLC lifted its position in shares of AZEK by 183.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock worth $35,000 after purchasing an additional 487 shares during the period. Paladin Wealth LLC bought a new position in shares of AZEK during the third quarter valued at approximately $39,000. Blue Trust Inc. increased its holdings in AZEK by 106.4% during the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after buying an additional 480 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in AZEK in the third quarter worth approximately $59,000. 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.