AZEK (NYSE:AZEK) Price Target Raised to $64.00

AZEK (NYSE:AZEK) had its target price lifted by Barclays from $58.00 to $64.00 in a research note published on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts have also issued reports on the company. Robert W. Baird raised their price objective on AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. BMO Capital Markets lifted their price objective on shares of AZEK from $49.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. DA Davidson increased their target price on shares of AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Truist Financial lifted their price target on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.67.

AZEK Stock Performance

NYSE:AZEK opened at $53.56 on Wednesday. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 51.50, a PEG ratio of 2.40 and a beta of 1.92. AZEK has a 1 year low of $35.38 and a 1 year high of $54.91. The stock’s 50 day simple moving average is $47.66 and its two-hundred day simple moving average is $45.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.14.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in shares of AZEK by 33.8% in the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after buying an additional 3,595,863 shares during the last quarter. FMR LLC increased its position in shares of AZEK by 57.9% in the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company’s stock valued at $318,782,000 after acquiring an additional 2,497,074 shares during the period. State Street Corp raised its stake in AZEK by 1.9% in the 3rd quarter. State Street Corp now owns 2,451,483 shares of the company’s stock worth $114,729,000 after acquiring an additional 45,774 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in AZEK by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company’s stock worth $99,175,000 after acquiring an additional 118,351 shares during the period. Finally, Geode Capital Management LLC lifted its position in AZEK by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company’s stock worth $109,105,000 after acquiring an additional 12,644 shares during the period. 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.