Barclays Issues Positive Forecast for AZEK (NYSE:AZEK) Stock Price

AZEK (NYSE:AZEK) had its price target raised by Barclays from $53.00 to $58.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

AZEK has been the subject of a number of other research reports. UBS Group dropped their price objective on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Robert W. Baird raised their price target on shares of AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday. DA Davidson boosted their price objective on shares of AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday. Loop Capital downgraded AZEK from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a report on Friday, October 4th. Finally, BMO Capital Markets raised their price objective on AZEK from $49.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.24.

AZEK Price Performance

AZEK stock traded down $0.10 during midday trading on Thursday, reaching $49.71. 522,233 shares of the stock were exchanged, compared to its average volume of 1,695,113. AZEK has a 52 week low of $31.16 and a 52 week high of $50.78. The company has a fifty day moving average price of $45.27 and a 200 day moving average price of $44.27. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.07 and a quick ratio of 2.11. The stock has a market capitalization of $7.19 billion, a PE ratio of 47.75, a P/E/G ratio of 1.20 and a beta of 1.88.

Hedge Funds Weigh In On AZEK

Large investors have recently modified their holdings of the company. ORG Wealth Partners LLC purchased a new position in AZEK in the third quarter worth $31,000. Farther Finance Advisors LLC boosted its stake in shares of AZEK by 183.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock valued at $35,000 after purchasing an additional 487 shares in the last quarter. Paladin Wealth LLC bought a new stake in AZEK in the third quarter worth $39,000. Blue Trust Inc. increased its holdings 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 buying an additional 480 shares during the period. Finally, Versant Capital Management Inc grew its position in AZEK by 5,452.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,277 shares of the company’s stock worth $54,000 after acquiring an additional 1,254 shares during the last quarter. 97.44% of the stock is currently owned by 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.