Benchmark Reiterates “Buy” Rating for AZEK (NYSE:AZEK)

Benchmark reaffirmed their buy rating on shares of AZEK (NYSE:AZEK) in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a $55.00 price objective on the stock.

AZEK has been the topic of a number of other reports. Barclays upped their target price on shares of AZEK from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday. BMO Capital Markets increased their price objective on shares of AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. DA Davidson increased their price objective on shares of AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Stifel Nicolaus dropped their price objective 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, Loop Capital downgraded shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price objective on the stock. in a research note on Friday, October 4th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, AZEK presently has an average rating of “Moderate Buy” and an average price target of $49.24.

AZEK Price Performance

Shares of AZEK stock opened at $50.98 on Thursday. 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 capitalization of $7.38 billion, a P/E ratio of 49.02, a P/E/G ratio of 2.23 and a beta of 1.88. The company’s 50-day simple moving average is $45.41 and its two-hundred day simple moving average is $44.28. AZEK has a one year low of $31.16 and a one year high of $51.03.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ORG Wealth Partners LLC purchased a new position in shares of AZEK in the third quarter worth $31,000. Farther Finance Advisors LLC increased its stake in shares of AZEK by 183.1% in the third quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock worth $35,000 after acquiring an additional 487 shares during the period. Paladin Wealth LLC acquired a new stake in shares of AZEK in the third quarter worth $39,000. Blue Trust Inc. increased its stake in shares of AZEK by 106.4% in the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after acquiring an additional 480 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AZEK in the third quarter worth $59,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.

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.