AZEK (NYSE:AZEK) Shares Gap Up After Analyst Upgrade

The AZEK Company Inc. (NYSE:AZEK)’s share price gapped up prior to trading on Wednesday after Barclays raised their price target on the stock from $53.00 to $58.00. The stock had previously closed at $46.46, but opened at $50.11. Barclays currently has an overweight rating on the stock. AZEK shares last traded at $48.14, with a volume of 600,620 shares traded.

Several other analysts have also recently weighed in on AZEK. DA Davidson raised their price target on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday. Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of AZEK in a research note on Friday, August 9th. 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 report on Wednesday. Robert W. Baird increased their target price on AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Stifel Nicolaus lowered their price target on AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.24.

Institutional Investors Weigh In On AZEK

Several institutional investors and hedge funds have recently bought and sold shares of AZEK. Teachers Retirement System of The State of Kentucky boosted its stake in shares of AZEK by 11.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 57,701 shares of the company’s stock valued at $2,700,000 after purchasing an additional 5,815 shares in the last quarter. Geode Capital Management LLC boosted 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 valued at $109,105,000 after acquiring an additional 12,644 shares in the last quarter. M&T Bank Corp grew its holdings in shares of AZEK by 140.5% during the 3rd quarter. M&T Bank Corp now owns 14,473 shares of the company’s stock worth $677,000 after acquiring an additional 8,456 shares during the period. Barclays PLC raised its position in shares of AZEK by 96.0% in the 3rd quarter. Barclays PLC now owns 191,588 shares of the company’s stock worth $8,966,000 after acquiring an additional 93,819 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of AZEK by 1.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 153,349 shares of the company’s stock valued at $7,177,000 after purchasing an additional 1,495 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

AZEK Stock Up 3.0 %

The company has a 50-day moving average of $45.27 and a two-hundred day moving average of $44.27. The company has a quick ratio of 2.11, a current ratio of 3.07 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $7.19 billion, a P/E ratio of 47.75, a price-to-earnings-growth ratio of 1.20 and a beta of 1.88.

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.