Royal Bank of Canada Boosts AZEK (NYSE:AZEK) Price Target to $50.00

AZEK (NYSE:AZEK) had its price objective increased by Royal Bank of Canada from $46.00 to $50.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 1.94% from the company’s current price.

A number of other research analysts have also recently commented on the stock. UBS Group decreased their target price on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. DA Davidson increased their price objective on shares of AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday. Stifel Nicolaus cut their target price on AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Truist Financial lowered their price target on AZEK from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Robert W. Baird lifted their price objective on AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.59.

AZEK Trading Up 5.6 %

AZEK stock traded up $2.59 during mid-day trading on Wednesday, hitting $49.05. The company’s stock had a trading volume of 1,056,937 shares, compared to its average volume of 1,686,428. AZEK has a 1 year low of $30.76 and a 1 year high of $50.78. 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 firm has a market capitalization of $7.10 billion, a PE ratio of 43.41, a price-to-earnings-growth ratio of 1.18 and a beta of 1.88. The stock’s fifty day moving average is $45.00 and its two-hundred day moving average is $44.20.

Hedge Funds Weigh In On AZEK

A number of institutional investors have recently modified their holdings of AZEK. ORG Wealth Partners LLC acquired a new position in AZEK in the third quarter valued at $31,000. Farther Finance Advisors LLC lifted its holdings in shares of AZEK by 183.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock worth $35,000 after acquiring an additional 487 shares during the period. Paladin Wealth LLC acquired a new stake in shares of AZEK in the third quarter worth approximately $39,000. Blue Trust Inc. grew its holdings in AZEK by 106.4% in the third 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 period. Finally, Versant Capital Management Inc increased its position in 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 and hedge funds own 97.44% of the company’s stock.

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.