AZEK (NYSE:AZEK) Price Target Raised to $50.00

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

A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets boosted their target price on shares of AZEK from $49.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday. Stifel Nicolaus reduced their price objective on AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. DA Davidson lifted their target price on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday. Truist Financial cut their price target on AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, UBS Group lowered 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. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.24.

AZEK Price Performance

Shares of AZEK stock opened at $50.98 on Wednesday. The stock’s fifty day moving average is $45.41 and its 200-day moving average is $44.29. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07. AZEK has a 52 week low of $31.16 and a 52 week high of $51.03. The stock has a market capitalization of $7.38 billion, a PE ratio of 49.02, a PEG ratio of 1.20 and a beta of 1.88.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in shares of AZEK by 33.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after purchasing an additional 3,595,863 shares in the last quarter. Vanguard Group Inc. lifted its stake in AZEK by 3.2% in the first quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock valued at $677,082,000 after buying an additional 413,297 shares in the last quarter. FMR LLC boosted its holdings in shares of AZEK by 57.9% in the third 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 period. State Street Corp increased its position in shares of AZEK by 1.9% during the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock worth $114,729,000 after acquiring an additional 45,774 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of AZEK by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company’s stock worth $99,175,000 after acquiring an additional 118,351 shares during the period. 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.