Barclays Forecasts Strong Price Appreciation for AZEK (NYSE:AZEK) Stock

AZEK (NYSE:AZEK) had its target price hoisted by research analysts at Barclays from $58.00 to $64.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 18.41% from the company’s current price.

AZEK has been the subject of several other reports. Robert W. Baird raised their price objective on shares of AZEK from $52.00 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Truist Financial raised their price objective on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. BMO Capital Markets raised their price objective on shares of AZEK from $49.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Royal Bank of Canada raised their price objective on shares of AZEK from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, DA Davidson raised their price target on shares of AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AZEK has an average rating of “Moderate Buy” and an average target price of $51.00.

AZEK Stock Up 1.0 %

NYSE:AZEK traded up $0.54 on Wednesday, hitting $54.05. The stock had a trading volume of 173,982 shares, compared to its average volume of 1,684,132. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 2.17. The stock has a market cap of $7.73 billion, a P/E ratio of 51.88, a price-to-earnings-growth ratio of 2.39 and a beta of 1.92. AZEK has a 1 year low of $34.64 and a 1 year high of $54.69. The firm’s fifty day simple moving average is $47.14 and its two-hundred day simple moving average is $44.85.

Institutional Trading of AZEK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AZEK. Equitable Trust Co. boosted its position 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 purchasing an additional 226 shares during the period. Creative Planning boosted its position in shares of AZEK by 6.6% in the third quarter. Creative Planning now owns 6,987 shares of the company’s stock worth $327,000 after purchasing an additional 430 shares during the period. Covestor Ltd boosted 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 worth $129,000 after purchasing an additional 436 shares during the period. Blue Trust Inc. boosted its position 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 purchasing an additional 480 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of 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 period. 97.44% of the stock is owned by hedge funds and other institutional investors.

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.