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

AZEK (NYSE:AZEK) had its price objective raised by Barclays from $53.00 to $58.00 in a report issued on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on the stock. Robert W. Baird raised their target price on shares of AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Truist Financial raised their target price on shares of AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Stifel Nicolaus dropped their target price on shares of AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada raised their target price on shares of AZEK from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, DA Davidson raised their target price on shares of AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.24.

AZEK Stock Performance

Shares of AZEK opened at $50.98 on Thursday. The company has a 50-day simple moving average of $45.41 and a 200-day simple moving average of $44.28. The company has a quick ratio of 2.11, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $7.38 billion, a PE ratio of 49.02, a P/E/G ratio of 2.23 and a beta of 1.88. AZEK has a 52-week low of $31.16 and a 52-week high of $51.03.

Hedge Funds Weigh In On AZEK

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of AZEK by 33.8% during the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after acquiring an additional 3,595,863 shares during the period. Vanguard Group Inc. boosted its holdings in shares of AZEK by 3.2% during the first quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock valued at $677,082,000 after acquiring an additional 413,297 shares during the period. FMR LLC lifted its holdings in AZEK by 57.9% in the third quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after purchasing an additional 2,497,074 shares during the period. State Street Corp lifted its holdings in AZEK by 1.9% in the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock worth $114,729,000 after purchasing an additional 45,774 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in AZEK by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company’s stock worth $99,175,000 after purchasing an additional 118,351 shares during the period. Institutional investors and hedge funds 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.