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

AZEK (NYSE:AZEK) had its target price raised by BMO Capital Markets from $49.00 to $51.00 in a report released on Wednesday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

AZEK has been the topic of a number of other reports. Robert W. Baird raised their price target on shares of AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group dropped their target price on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Loop Capital downgraded AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target for the company. in a research report on Friday, October 4th. Stifel Nicolaus cut their price objective on AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $55.00 target price on shares of AZEK in a research report on Friday, August 9th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, AZEK has an average rating of “Moderate Buy” and a consensus target price of $48.88.

AZEK Price Performance

AZEK stock opened at $48.19 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07. The business has a 50-day simple moving average of $45.13 and a two-hundred day simple moving average of $44.23. AZEK has a 52-week low of $30.76 and a 52-week high of $50.78. The company has a market capitalization of $6.97 billion, a P/E ratio of 42.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.88.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. ORG Wealth Partners LLC purchased a new position in AZEK during the 3rd quarter valued at about $31,000. Farther Finance Advisors LLC boosted its position in shares of AZEK by 183.1% in the third quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock valued at $35,000 after acquiring an additional 487 shares during the period. Paladin Wealth LLC bought a new position in shares of AZEK in the third quarter valued at approximately $39,000. Blue Trust Inc. grew its stake in 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, Versant Capital Management Inc increased its holdings in AZEK by 5,452.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,277 shares of the company’s stock worth $54,000 after acquiring an additional 1,254 shares during the period. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

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.