AZEK (NYSE:AZEK) Price Target Raised to $51.00

AZEK (NYSE:AZEK) had its price target upped by BMO Capital Markets from $49.00 to $51.00 in a research note issued to investors on Wednesday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

A number of other equities research analysts have also recently weighed in on AZEK. JPMorgan Chase & Co. dropped their price target on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Benchmark reissued a “buy” rating and issued a $55.00 target price on shares of AZEK in a research report on Friday, August 9th. Truist Financial decreased 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. Loop Capital downgraded AZEK from a “buy” rating to a “hold” rating and set a $47.00 price objective on the stock. in a report on Friday, October 4th. Finally, Stifel Nicolaus lowered their target price on AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.24.

AZEK Stock Performance

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AZEK. ORG Wealth Partners LLC acquired a new position in AZEK in the third quarter valued at approximately $31,000. Farther Finance Advisors LLC boosted its holdings in shares of AZEK by 183.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock valued at $35,000 after buying an additional 487 shares in the last quarter. Paladin Wealth LLC purchased a new position in shares of AZEK in the 3rd quarter valued at $39,000. Blue Trust Inc. raised its stake in AZEK by 106.4% during the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after acquiring an additional 480 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in AZEK in the third quarter valued at $59,000. 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.