The AZEK Company Inc. (NYSE:AZEK) Short Interest Up 7.4% in October

The AZEK Company Inc. (NYSE:AZEK) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 5,630,000 shares, an increase of 7.4% from the October 15th total of 5,240,000 shares. Based on an average daily trading volume, of 1,540,000 shares, the short-interest ratio is currently 3.7 days. Currently, 4.0% of the company’s stock are short sold.

Institutional Investors Weigh In On AZEK

Large investors have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky grew its position in shares of AZEK by 11.2% during 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 acquiring an additional 5,815 shares during the last quarter. Geode Capital Management LLC grew its holdings in AZEK by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company’s stock worth $109,105,000 after buying an additional 12,644 shares in the last quarter. M&T Bank Corp boosted its position in AZEK by 140.5% during 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 period. Barclays PLC grew its stake in shares of AZEK by 96.0% in the third quarter. Barclays PLC now owns 191,588 shares of the company’s stock worth $8,966,000 after purchasing an additional 93,819 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of AZEK by 1.0% during the third quarter. Public Employees Retirement System of Ohio now owns 153,349 shares of the company’s stock valued at $7,177,000 after purchasing an additional 1,495 shares during the period. 97.44% of the stock is owned by institutional investors and hedge funds.

AZEK Stock Up 1.4 %

Shares of AZEK stock opened at $46.30 on Tuesday. AZEK has a twelve month low of $30.76 and a twelve month high of $50.78. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 40.93, a PEG ratio of 1.18 and a beta of 1.88. The company has a current ratio of 3.07, a quick ratio of 2.11 and a debt-to-equity ratio of 0.41. The business’s 50 day simple moving average is $44.91 and its 200-day simple moving average is $44.20.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AZEK shares. JPMorgan Chase & Co. dropped their target price on AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. UBS Group cut their target price on AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Stifel Nicolaus reduced their target price on AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Loop Capital lowered shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target for the company. in a research note on Friday, October 4th. Finally, Royal Bank of Canada reduced their price objective on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.12.

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.