AZEK (NYSE:AZEK) Price Target Raised to $58.00 at Barclays

AZEK (NYSE:AZEK) had its price target upped by Barclays from $53.00 to $58.00 in a report issued on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

AZEK has been the subject of a number of other research reports. Truist Financial upped their target price on AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus lowered their price objective on AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Loop Capital lowered shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price objective for the company. in a report on Friday, October 4th. DA Davidson boosted their target price on shares of AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, BMO Capital Markets upped their price target on shares of AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AZEK currently has an average rating of “Moderate Buy” and an average target price of $49.24.

AZEK Price Performance

Shares of NYSE:AZEK opened at $50.98 on Thursday. AZEK has a one year low of $31.16 and a one year high of $51.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 2.11. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 49.02, a PEG ratio of 2.23 and a beta of 1.88. The firm has a 50 day simple moving average of $45.41 and a 200 day simple moving average of $44.28.

Hedge Funds Weigh In On AZEK

Institutional investors have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky grew its position in shares of AZEK by 11.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 57,701 shares of the company’s stock worth $2,700,000 after buying an additional 5,815 shares during the period. Geode Capital Management LLC grew its holdings in AZEK by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company’s stock worth $109,105,000 after purchasing an additional 12,644 shares during the period. M&T Bank Corp increased its stake in AZEK by 140.5% in the third quarter. M&T Bank Corp now owns 14,473 shares of the company’s stock valued at $677,000 after purchasing an additional 8,456 shares in the last quarter. Barclays PLC increased its stake in AZEK by 96.0% in the third quarter. Barclays PLC now owns 191,588 shares of the company’s stock valued at $8,966,000 after purchasing an additional 93,819 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of AZEK by 1.0% during the third quarter. Public Employees Retirement System of Ohio now owns 153,349 shares of the company’s stock valued at $7,177,000 after purchasing an additional 1,495 shares during the period. 97.44% of the stock is owned by institutional investors and hedge funds.

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.