AZEK (NYSE:AZEK) Reaches New 12-Month High After Analyst Upgrade

Shares of The AZEK Company Inc. (NYSE:AZEK) hit a new 52-week high during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $48.00 to $58.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. AZEK traded as high as $52.25 and last traded at $52.25, with a volume of 3108 shares. The stock had previously closed at $50.98.

Other research analysts have also issued reports about the stock. Barclays lifted their price objective on shares of AZEK from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Robert W. Baird boosted their price objective on shares of AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Stifel Nicolaus decreased their target price on shares of AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. DA Davidson raised their price target on shares of AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Finally, Truist Financial upped their price target on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.82.

Institutional Investors Weigh In On AZEK

A number of institutional investors have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co boosted its holdings in AZEK by 180.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 36,912 shares of the company’s stock valued at $1,856,000 after acquiring an additional 23,746 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in AZEK by 15.9% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 734,446 shares of the company’s stock valued at $30,942,000 after purchasing an additional 100,719 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $73,631,000 after purchasing an additional 587,107 shares during the period. WCM Investment Management LLC grew its holdings 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 purchasing an additional 11,770 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of AZEK by 8.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 671,267 shares of the company’s stock worth $31,415,000 after buying an additional 50,230 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

AZEK Stock Up 4.6 %

The company has a market capitalization of $7.72 billion, a P/E ratio of 51.29, a price-to-earnings-growth ratio of 2.29 and a beta of 1.88. The company has a current ratio of 2.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average is $45.59 and its 200 day moving average is $44.33.

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.