JPMorgan Chase & Co. Forecasts Strong Price Appreciation for AZEK (NYSE:AZEK) Stock

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

A number of other equities research analysts have also recently weighed in on the stock. UBS Group cut their price objective on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Robert W. Baird raised their price objective on AZEK from $52.00 to $54.00 and gave the company an “outperform” 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 report on Thursday. Truist Financial increased their target price on AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus lowered their price target on AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.82.

AZEK Stock Performance

Shares of AZEK stock opened at $53.17 on Monday. The company’s fifty day moving average price is $45.41 and its 200-day moving average price is $44.28. The stock has a market cap of $7.69 billion, a PE ratio of 50.24, a price-to-earnings-growth ratio of 2.29 and a beta of 1.88. The company has a current ratio of 2.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. AZEK has a 12 month low of $31.17 and a 12 month high of $53.20.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AZEK. ORG Wealth Partners LLC purchased a new stake in shares of AZEK in the 3rd quarter worth $31,000. Farther Finance Advisors LLC lifted its position in AZEK by 183.1% during the third 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 during the third quarter valued at about $39,000. Blue Trust Inc. increased its position in 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of AZEK in the third quarter worth about $59,000. 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.