AZEK’s (AZEK) Buy Rating Reaffirmed at Benchmark

Benchmark reaffirmed their buy rating on shares of AZEK (NYSE:AZEK) in a research note published on Thursday,Benzinga reports. Benchmark currently has a $55.00 target price on the stock.

Several other brokerages also recently weighed in on AZEK. DA Davidson boosted their price target on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Truist Financial lifted their price target on AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a 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. Finally, Loop Capital downgraded AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target for the company. in a research report on Friday, October 4th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AZEK currently has an average rating of “Moderate Buy” and an average target price of $49.24.

AZEK Trading Up 0.4 %

Shares of AZEK stock traded up $0.19 during mid-day trading on Thursday, hitting $50.00. 110,375 shares of the stock were exchanged, compared to its average volume of 1,693,162. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 47.75, a price-to-earnings-growth ratio of 1.20 and a beta of 1.88. AZEK has a twelve month low of $31.16 and a twelve month 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 company has a 50-day simple moving average of $45.27 and a 200 day simple moving average of $44.27.

Hedge Funds Weigh In On AZEK

Several large investors have recently bought and sold shares of AZEK. Wellington Management Group LLP lifted its holdings 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 worth $665,702,000 after buying an additional 3,595,863 shares during the last quarter. Vanguard Group Inc. boosted its holdings in AZEK by 3.2% during the first quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock worth $677,082,000 after buying an additional 413,297 shares during the last quarter. FMR LLC increased its holdings in shares of AZEK by 57.9% in the third quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after acquiring an additional 2,497,074 shares in the last quarter. State Street Corp boosted its stake in AZEK by 1.9% in the 3rd quarter. State Street Corp now owns 2,451,483 shares of the company’s stock worth $114,729,000 after purchasing an additional 45,774 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in AZEK by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company’s stock worth $99,175,000 after acquiring an additional 118,351 shares in 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.