Barclays Boosts AZEK (NYSE:AZEK) Price Target to $58.00

AZEK (NYSE:AZEK) had its price objective increased by equities research analysts at Barclays from $53.00 to $58.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 21.54% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Robert W. Baird boosted their price target on shares of AZEK from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday. UBS Group decreased their price target on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Truist Financial raised their price objective on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday. DA Davidson increased their price target on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday. 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 note on Friday, October 4th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.24.

AZEK Stock Performance

AZEK stock traded down $0.50 during trading hours on Thursday, hitting $47.72. The stock had a trading volume of 173,716 shares, compared to its average volume of 1,690,213. AZEK has a fifty-two week low of $31.16 and a fifty-two week high of $50.78. The company has a market cap of $6.91 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 1.20 and a beta of 1.88. The company has a 50-day moving average of $45.13 and a two-hundred day moving average of $44.23. The company has a quick ratio of 2.11, a current ratio of 3.07 and a debt-to-equity ratio of 0.41.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky increased its holdings in shares of AZEK by 11.2% in the third 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 increased its stake in AZEK by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company’s stock valued at $109,105,000 after purchasing an additional 12,644 shares in the last quarter. M&T Bank Corp raised its holdings in AZEK by 140.5% in the 3rd quarter. M&T Bank Corp now owns 14,473 shares of the company’s stock worth $677,000 after acquiring an additional 8,456 shares during the last quarter. Barclays PLC lifted its holdings in shares of AZEK by 96.0% during 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 grew its holdings in shares of AZEK by 1.0% in the third quarter. Public Employees Retirement System of Ohio now owns 153,349 shares of the company’s stock worth $7,177,000 after acquiring an additional 1,495 shares during the period. 97.44% of the stock is currently owned by institutional investors.

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.