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

The AZEK Company Inc. (NYSE:AZEK)’s share price hit a new 52-week high during trading 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 changing hands. The stock had previously closed at $50.98.

A number of other equities analysts have also issued reports on the stock. Benchmark reissued a “buy” rating and set a $55.00 price target on shares of AZEK in a research report on Thursday, November 21st. Stifel Nicolaus reduced their target price on shares of AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 8th. BMO Capital Markets upped their target price on AZEK from $49.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. DA Davidson raised their price objective on shares of AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada lifted their target price on shares of AZEK from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.82.

Institutional Investors Weigh In On AZEK

Several large investors have recently bought and sold shares of AZEK. Equitable Trust Co. boosted its stake in shares of AZEK by 2.2% in the third quarter. Equitable Trust Co. now owns 10,346 shares of the company’s stock worth $484,000 after acquiring an additional 226 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of AZEK by 3.7% during the first quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock worth $355,000 after buying an additional 251 shares in the last quarter. Creative Planning grew its holdings in shares of AZEK by 6.6% during the third quarter. Creative Planning now owns 6,987 shares of the company’s stock worth $327,000 after buying an additional 430 shares in the last quarter. Covestor Ltd raised its position in shares of AZEK by 18.8% in the third quarter. Covestor Ltd now owns 2,758 shares of the company’s stock valued at $129,000 after buying an additional 436 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of AZEK by 106.4% in the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after buying an additional 480 shares in the last quarter. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

AZEK Stock Down 1.7 %

The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 50.39, a price-to-earnings-growth ratio of 2.29 and a beta of 1.88. 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 business’s 50-day moving average is $45.59 and its two-hundred day moving average is $44.33.

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.