AZEK (NYSE:AZEK) Trading Down 1.3% – Here’s Why

The AZEK Company Inc. (NYSE:AZEK) fell 1.3% during trading on Monday . The company traded as low as $53.51 and last traded at $53.51. Approximately 251,256 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,686,211 shares. The stock had previously closed at $54.21.

Analyst Ratings Changes

Several research firms have recently issued reports on AZEK. Truist Financial lifted their price target on AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Robert W. Baird upped their target price on shares of AZEK from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Royal Bank of Canada raised their price target on shares of AZEK from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. DA Davidson upped their price objective on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Finally, Loop Capital downgraded 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. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.63.

AZEK Trading Up 0.1 %

The company has a quick ratio of 1.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $7.76 billion, a PE ratio of 52.08, a PEG ratio of 2.39 and a beta of 1.92. The stock’s fifty day simple moving average is $46.85 and its 200 day simple moving average is $44.75.

Institutional Investors Weigh In On AZEK

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC raised its holdings in AZEK by 24.4% during the second quarter. CWM LLC now owns 5,099 shares of the company’s stock valued at $215,000 after acquiring an additional 1,001 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of AZEK by 14.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,436 shares of the company’s stock worth $440,000 after buying an additional 1,308 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of AZEK by 136.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 635,244 shares of the company’s stock worth $26,763,000 after acquiring an additional 366,025 shares during the last quarter. Raymond James & Associates boosted its holdings in AZEK by 290.8% during the 2nd quarter. Raymond James & Associates now owns 121,623 shares of the company’s stock valued at $5,124,000 after acquiring an additional 90,499 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its position 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 valued at $30,942,000 after acquiring an additional 100,719 shares during the last quarter. 97.44% of the stock is currently 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.