AZEK (NYSE:AZEK) Reaches New 52-Week High After Analyst Upgrade

The AZEK Company Inc. (NYSE:AZEK) shares reached a new 52-week high 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 trading hands. The stock had previously closed at $50.98.

Several other research firms also recently commented on AZEK. Barclays increased their price objective on shares of AZEK from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday. BMO Capital Markets increased their target price on AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Loop Capital cut shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price objective for the company. in a research report on Friday, October 4th. Truist Financial raised their target price on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, UBS Group lowered their price target on AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.82.

Institutional Trading of AZEK

Institutional investors have recently made changes to their positions in the company. ORG Wealth Partners LLC purchased a new position in AZEK in the 3rd quarter valued at approximately $31,000. Farther Finance Advisors LLC raised its holdings in AZEK by 183.1% during the third quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock worth $35,000 after purchasing an additional 487 shares in the last quarter. Paladin Wealth LLC purchased a new stake in shares of AZEK during the 3rd quarter worth approximately $39,000. Blue Trust Inc. raised its stake in AZEK by 106.4% during the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after acquiring an additional 480 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in AZEK in the third quarter valued at $59,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.

AZEK Stock Performance

The firm has a fifty day simple moving average of $45.41 and a 200-day simple moving average of $44.28. 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 company has a market cap of $7.69 billion, a PE ratio of 50.24, a price-to-earnings-growth 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.