JPMorgan Chase & Co. Issues Positive Forecast for AZEK (NYSE:AZEK) Stock Price

AZEK (NYSE:AZEK) had its target price lifted by investment analysts at JPMorgan Chase & Co. from $48.00 to $58.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 9.08% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Truist Financial increased their target price on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Barclays boosted their target price on AZEK from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank of Canada lifted their price target on AZEK from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Loop Capital downgraded shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a research note on Friday, October 4th. Finally, UBS Group cut their price target on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, AZEK presently has an average rating of “Moderate Buy” and an average price target of $49.82.

AZEK Stock Up 4.3 %

AZEK opened at $53.17 on Monday. The company’s 50-day moving average price is $45.41 and its two-hundred day moving average price is $44.28. AZEK has a twelve month low of $31.17 and a twelve month high of $53.20. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 50.24, a PEG 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.

Hedge Funds Weigh In On AZEK

Hedge funds and other institutional investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co raised its holdings in shares of AZEK by 180.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 36,912 shares of the company’s stock valued at $1,856,000 after acquiring an additional 23,746 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in AZEK by 15.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 734,446 shares of the company’s stock worth $30,942,000 after purchasing an additional 100,719 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 purchasing an additional 587,107 shares during the period. WCM Investment Management LLC boosted its stake in shares of AZEK by 2.2% during the 3rd quarter. WCM Investment Management LLC now owns 539,494 shares of the company’s stock valued at $25,232,000 after purchasing an additional 11,770 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of AZEK by 8.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 671,267 shares of the company’s stock valued at $31,415,000 after buying an additional 50,230 shares during the period. 97.44% of the stock is 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.