AZEK (NYSE:AZEK) Sets New 1-Year High After Analyst Upgrade

The AZEK Company Inc. (NYSE:AZEK) reached a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $48.00 to $58.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. AZEK traded as high as $52.25 and last traded at $52.25, with a volume of 3108 shares. The stock had previously closed at $50.98.

Several other analysts have also recently weighed in on AZEK. Royal Bank of Canada increased their price target on shares of AZEK from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Loop Capital cut AZEK from a “buy” rating to a “hold” rating and set a $47.00 target price for the company. in a research note on Friday, October 4th. UBS Group reduced their target price on AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Truist Financial increased their price target on AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, BMO Capital Markets upped their target price on shares of AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.82.

Institutional Investors Weigh In On AZEK

A number of hedge funds have recently added to or reduced their stakes in AZEK. Equitable Trust Co. increased its position in shares of AZEK by 2.2% during the third quarter. Equitable Trust Co. now owns 10,346 shares of the company’s stock worth $484,000 after acquiring an additional 226 shares during the period. Tidal Investments LLC grew its stake in AZEK by 3.7% during the 1st quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock worth $355,000 after purchasing an additional 251 shares in the last quarter. Creative Planning increased its holdings in AZEK by 6.6% during the 3rd quarter. Creative Planning now owns 6,987 shares of the company’s stock worth $327,000 after purchasing an additional 430 shares during the period. Covestor Ltd raised its position in AZEK by 18.8% in the 3rd quarter. Covestor Ltd now owns 2,758 shares of the company’s stock valued at $129,000 after purchasing an additional 436 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of AZEK by 106.4% in the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after buying an additional 480 shares during the period. 97.44% of the stock is currently owned by institutional investors and hedge funds.

AZEK Stock Performance

The stock has a 50-day moving average price of $45.59 and a 200 day moving average price of $44.33. The company has a quick ratio of 1.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 50.39, a P/E/G ratio of 2.29 and a beta of 1.88.

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.