Barclays Forecasts Strong Price Appreciation for AZEK (NYSE:AZEK) Stock

AZEK (NYSE:AZEK) had its target price increased by analysts at Barclays from $53.00 to $58.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 13.77% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus decreased their price target on shares of AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. UBS Group lowered their target price on AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on AZEK from $52.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Truist Financial boosted their price objective on AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, DA Davidson lifted their target price on shares of AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.24.

AZEK Price Performance

Shares of NYSE:AZEK opened at $50.98 on Thursday. AZEK has a fifty-two week low of $31.16 and a fifty-two week high of $51.03. The company’s 50-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. The company has a market capitalization of $7.38 billion, a P/E ratio of 49.02, a price-to-earnings-growth ratio of 1.20 and a beta of 1.88.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Equitable Trust Co. grew its stake in AZEK by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 10,346 shares of the company’s stock worth $484,000 after buying an additional 226 shares in the last quarter. Tidal Investments LLC increased its stake in AZEK by 3.7% in the first quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock valued at $355,000 after acquiring an additional 251 shares during the last quarter. Creative Planning raised its position in AZEK by 6.6% during the third quarter. Creative Planning now owns 6,987 shares of the company’s stock valued at $327,000 after purchasing an additional 430 shares in the last quarter. Covestor Ltd lifted its stake in AZEK by 18.8% during the third quarter. Covestor Ltd now owns 2,758 shares of the company’s stock worth $129,000 after purchasing an additional 436 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of AZEK by 106.4% during the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after purchasing an additional 480 shares during the last quarter. 97.44% of the stock is currently owned by institutional investors.

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.