AZEK (NYSE:AZEK) Given New $51.00 Price Target at BMO Capital Markets

AZEK (NYSE:AZEK) had its target price lifted by stock analysts at BMO Capital Markets from $49.00 to $51.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 3.22% from the company’s current price.

Several other analysts have also recently issued reports on the stock. Robert W. Baird increased their target price on shares of AZEK from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday. Stifel Nicolaus dropped their price objective on AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. UBS Group lowered their price target on AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Loop Capital lowered AZEK from a “buy” rating to a “hold” rating and set a $47.00 price objective for the company. in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

AZEK Trading Up 6.3 %

Shares of AZEK stock opened at $49.41 on Wednesday. The company’s 50-day moving average price is $45.00 and its 200-day moving average price is $44.20. The company has a current ratio of 3.07, a quick ratio of 2.11 and a debt-to-equity ratio of 0.41. AZEK has a 12-month low of $30.76 and a 12-month high of $50.78. The company has a market cap of $7.15 billion, a price-to-earnings ratio of 43.73, a PEG ratio of 1.18 and a beta of 1.88.

Hedge Funds Weigh In On AZEK

Several institutional investors and hedge funds have recently bought and sold shares of AZEK. Wellington Management Group LLP boosted its stake in shares of AZEK by 33.8% during the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after purchasing an additional 3,595,863 shares during the period. FMR LLC raised its holdings in AZEK by 57.9% during the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company’s stock valued at $318,782,000 after buying an additional 2,497,074 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in AZEK during the 2nd quarter valued at $86,719,000. Price T Rowe Associates Inc. MD grew its holdings in AZEK by 66.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock worth $73,631,000 after acquiring an additional 587,107 shares during the last quarter. Finally, Interval Partners LP increased its position in shares of AZEK by 162.4% in the second quarter. Interval Partners LP now owns 742,749 shares of the company’s stock valued at $31,292,000 after acquiring an additional 459,664 shares during the period. 97.44% of the stock is currently owned by institutional investors.

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.