Benchmark Reiterates “Buy” Rating for AZEK (NYSE:AZEK)

Benchmark reissued their buy rating on shares of AZEK (NYSE:AZEK) in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a $55.00 price target on the stock.

A number of other analysts have also recently issued reports on AZEK. UBS Group reduced their price objective on AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Stifel Nicolaus lowered their price target on AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. BMO Capital Markets raised their price objective on shares of AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday. Royal Bank of Canada boosted their target price on shares of AZEK from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Truist Financial raised their price target on shares of AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, AZEK currently has a consensus rating of “Moderate Buy” and an average target price of $49.24.

AZEK Stock Up 2.3 %

AZEK stock opened at $50.98 on Thursday. The company has a 50 day moving average of $45.41 and a two-hundred day moving average of $44.28. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 49.02, a PEG ratio of 2.23 and a beta of 1.88. AZEK has a 12-month low of $31.16 and a 12-month high of $51.03. The company has a quick ratio of 2.11, a current ratio of 2.17 and a debt-to-equity ratio of 0.32.

Institutional Investors Weigh In On AZEK

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position 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 worth $677,082,000 after purchasing an additional 413,297 shares in the last quarter. Acadian Asset Management LLC acquired a new position in AZEK during the 1st quarter worth $439,000. O Shaughnessy Asset Management LLC bought a new position in AZEK in the 1st quarter valued at $285,000. CANADA LIFE ASSURANCE Co increased its stake in shares of 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 buying an additional 23,746 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of AZEK during the first quarter worth $380,000. Institutional investors 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.