AZEK (NYSE:AZEK) Trading 0.4% Higher Following Analyst Upgrade

The AZEK Company Inc. (NYSE:AZEK) shot up 0.4% on Friday after Barclays raised their price target on the stock from $53.00 to $58.00. Barclays currently has an overweight rating on the stock. AZEK traded as high as $50.75 and last traded at $50.03. 964,421 shares traded hands during trading, a decline of 43% from the average session volume of 1,695,113 shares. The stock had previously closed at $49.81.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada increased their target price on AZEK from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday. Loop Capital lowered shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target on the stock. in a research report on Friday, October 4th. Benchmark reiterated a “buy” rating and set a $55.00 target price on shares of AZEK in a research note on Friday, August 9th. Stifel Nicolaus decreased their price target on shares of AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, DA Davidson increased their price objective on AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.24.

Institutional Trading of AZEK

A number of hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in AZEK during the 1st quarter valued at approximately $439,000. O Shaughnessy Asset Management LLC bought a new stake in AZEK during the first quarter worth $285,000. CANADA LIFE ASSURANCE Co boosted its holdings 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 worth $1,856,000 after buying an additional 23,746 shares during the last quarter. Quadrature Capital Ltd boosted its stake in AZEK by 68.2% in the first quarter. Quadrature Capital Ltd now owns 17,840 shares of the company’s stock valued at $896,000 after acquiring an additional 7,236 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in 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. 97.44% of the stock is owned by institutional investors and hedge funds.

AZEK Trading Up 2.3 %

The firm has a fifty day moving average of $45.41 and a two-hundred day moving average of $44.28. The company has a current ratio of 2.17, a quick ratio of 2.11 and a debt-to-equity ratio of 0.32. The company has a market cap of $7.38 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 2.23 and a beta of 1.88.

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.