AZEK (NYSE:AZEK) Price Target Raised to $58.00

AZEK (NYSE:AZEK) had its price objective lifted by Royal Bank of Canada from $50.00 to $58.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Loop Capital downgraded shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a research note on Friday, October 4th. Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of AZEK in a research report on Thursday, November 21st. Robert W. Baird boosted their target price on AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. DA Davidson increased their price target on AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised their price target on AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $52.67.

AZEK Stock Performance

NYSE AZEK opened at $53.51 on Friday. The business’s 50 day moving average price is $47.66 and its 200-day moving average price is $45.00. AZEK has a fifty-two week low of $35.38 and a fifty-two week high of $54.91. The company has a market cap of $7.65 billion, a P/E ratio of 51.45, a P/E/G ratio of 2.40 and a beta of 1.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 2.17.

Institutional Trading of AZEK

A number of hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its position in shares of AZEK by 24.4% in the 2nd quarter. CWM LLC now owns 5,099 shares of the company’s stock worth $215,000 after purchasing an additional 1,001 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in AZEK by 14.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,436 shares of the company’s stock worth $440,000 after buying an additional 1,308 shares during the period. Assenagon Asset Management S.A. boosted its position in AZEK by 136.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 635,244 shares of the company’s stock valued at $26,763,000 after acquiring an additional 366,025 shares in the last quarter. Raymond James & Associates increased its holdings in shares of AZEK by 290.8% in the 2nd quarter. Raymond James & Associates now owns 121,623 shares of the company’s stock valued at $5,124,000 after acquiring an additional 90,499 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of AZEK by 15.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 734,446 shares of the company’s stock worth $30,942,000 after acquiring an additional 100,719 shares in the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

AZEK Company Profile

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.