The AZEK Company Inc. (NYSE:AZEK) Short Interest Update

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

Hedge Funds Weigh In On AZEK

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Wealth Partners LLC bought a new stake in shares of AZEK in the third quarter worth approximately $31,000. Farther Finance Advisors LLC boosted its holdings in AZEK by 183.1% in 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 during the last quarter. Paladin Wealth LLC bought a new stake in AZEK in 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 valued at $44,000 after buying an additional 480 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of AZEK during the 3rd quarter valued at $59,000. Institutional investors own 97.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AZEK shares. Truist Financial decreased their target price on AZEK from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. UBS Group dropped their target price on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada reduced their target price on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Finally, Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of AZEK in a report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.12.

AZEK Stock Performance

Shares of NYSE:AZEK traded down $0.68 during midday trading on Tuesday, reaching $45.62. 74,993 shares of the company’s stock traded hands, compared to its average volume of 1,682,105. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07. AZEK has a one year low of $30.76 and a one year high of $50.78. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 40.93, a P/E/G ratio of 1.18 and a beta of 1.88. The stock has a 50 day moving average of $44.91 and a 200 day moving average of $44.20.

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.