AZEK (NYSE:AZEK) Hits New 12-Month High on Analyst Upgrade

The AZEK Company Inc. (NYSE:AZEK) shares hit a new 52-week high during trading on Thursday after Royal Bank of Canada raised their price target on the stock from $50.00 to $58.00. Royal Bank of Canada currently has an outperform rating on the stock. AZEK traded as high as $54.91 and last traded at $54.40, with a volume of 32523 shares changing hands. The stock had previously closed at $54.76.

A number of other equities analysts have also commented on the stock. Truist Financial lifted their price target on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Barclays upped their price target on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets increased their price target on AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Benchmark reaffirmed a “buy” rating and issued a $55.00 price objective on shares of AZEK in a research note on Thursday, November 21st. Finally, Loop Capital downgraded shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 target price for the company. in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AZEK has an average rating of “Moderate Buy” and an average price target of $52.67.

Institutional Investors Weigh In On AZEK

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Wealth Partners LLC bought a new position in shares of AZEK during the 3rd quarter worth about $31,000. Farther Finance Advisors LLC boosted its holdings in 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 in the last quarter. Paladin Wealth LLC acquired a new stake in AZEK in the third quarter valued at approximately $39,000. Blue Trust Inc. increased its holdings in shares of AZEK by 106.4% during the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after acquiring an additional 480 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of AZEK during the third quarter worth approximately $59,000. 97.44% of the stock is owned by institutional investors.

AZEK Trading Down 0.7 %

The business has a fifty day moving average of $47.66 and a 200-day moving average of $45.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 2.17. The company has a market capitalization of $7.66 billion, a P/E ratio of 51.50, a PEG ratio of 2.40 and a beta of 1.92.

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.