BMO Capital Markets Increases AZEK (NYSE:AZEK) Price Target to $51.00

AZEK (NYSE:AZEK) had its price target hoisted by investment analysts at BMO Capital Markets from $49.00 to $51.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 2.69% from the stock’s current price.

AZEK has been the topic of several other research reports. Stifel Nicolaus decreased their target price on AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Truist Financial cut their price target on shares of AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Robert W. Baird raised 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. Loop Capital downgraded shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a research note on Friday, October 4th. Finally, Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of AZEK in a research report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.24.

AZEK Stock Up 3.0 %

AZEK stock opened at $49.66 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07. The firm has a 50 day moving average price of $45.27 and a 200 day moving average price of $44.27. AZEK has a fifty-two week low of $31.16 and a fifty-two week high of $50.78. The company has a market capitalization of $7.19 billion, a PE ratio of 47.75, a price-to-earnings-growth ratio of 1.20 and a beta of 1.88.

Institutional Investors Weigh In On AZEK

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in AZEK by 33.8% during the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after purchasing an additional 3,595,863 shares in the last quarter. FMR LLC grew its position in shares of AZEK by 57.9% in the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company’s stock valued at $318,782,000 after buying an additional 2,497,074 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in AZEK during the 2nd quarter worth $86,719,000. Price T Rowe Associates Inc. MD lifted its position in AZEK by 66.8% in 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 acquiring an additional 587,107 shares during the last quarter. Finally, Interval Partners LP boosted its stake in AZEK by 162.4% in the second quarter. Interval Partners LP now owns 742,749 shares of the company’s stock valued at $31,292,000 after acquiring an additional 459,664 shares in the last quarter. Hedge funds and other 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.