AZEK (NYSE:AZEK) Reaches New 12-Month High Following Analyst Upgrade

The AZEK Company Inc. (NYSE:AZEK)’s stock price 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.

Other analysts have also recently issued research reports about the company. BMO Capital Markets lifted their price target on AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a 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 target on the stock. in a research report on Friday, October 4th. Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of AZEK in a research report on Thursday. Truist Financial increased their price target on AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Barclays boosted their price objective on AZEK from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.82.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC bought a new stake in shares of AZEK in the 3rd quarter worth about $31,000. Farther Finance Advisors LLC grew its stake 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 buying an additional 487 shares during the last quarter. Paladin Wealth LLC bought a new stake in AZEK during the 3rd quarter worth approximately $39,000. Blue Trust Inc. raised its position in AZEK by 106.4% in the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after purchasing an additional 480 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of AZEK by 5,452.2% during the second quarter. Versant Capital Management Inc now owns 1,277 shares of the company’s stock worth $54,000 after purchasing an additional 1,254 shares during the last quarter. Institutional investors own 97.44% of the company’s stock.

AZEK Stock Performance

The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of 50.24, a price-to-earnings-growth ratio of 2.29 and a beta of 1.88. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.14. The stock has a 50 day moving average price of $45.41 and a two-hundred day moving average price of $44.28.

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.