AZEK (NYSE:AZEK) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

AZEK (NYSE:AZEK) had its price objective increased by Royal Bank of Canada from $46.00 to $50.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts have also recently issued research reports about the company. Loop Capital cut AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target for the company. in a research report on Friday, October 4th. Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of AZEK in a research report on Friday, August 9th. BMO Capital Markets increased their price target on shares of AZEK from $49.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday. DA Davidson lifted their price objective on shares of AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, UBS Group cut their price objective on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.24.

AZEK Trading Up 2.3 %

NYSE:AZEK opened at $50.98 on Wednesday. The company has a market capitalization of $7.38 billion, a P/E ratio of 49.02, a PEG ratio of 2.23 and a beta of 1.88. The company has a current ratio of 2.17, a quick ratio of 2.11 and a debt-to-equity ratio of 0.32. AZEK has a 12 month low of $31.16 and a 12 month high of $51.03. The firm has a fifty day simple moving average of $45.41 and a 200-day simple moving average of $44.28.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in AZEK by 3.2% during the first quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock worth $677,082,000 after acquiring an additional 413,297 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in AZEK by 180.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 36,912 shares of the company’s stock valued at $1,856,000 after purchasing an additional 23,746 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in AZEK by 15.9% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 734,446 shares of the company’s stock worth $30,942,000 after purchasing an additional 100,719 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of AZEK by 66.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock worth $73,631,000 after buying an additional 587,107 shares in the last quarter. Finally, WCM Investment Management LLC lifted its stake in shares of AZEK by 2.2% in the third quarter. WCM Investment Management LLC now owns 539,494 shares of the company’s stock worth $25,232,000 after buying an additional 11,770 shares in the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.

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.