Nomura Asset Management Co. Ltd. Makes New Investment in The AZEK Company Inc. (NYSE:AZEK)

Nomura Asset Management Co. Ltd. acquired a new stake in shares of The AZEK Company Inc. (NYSE:AZEK) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,105 shares of the company’s stock, valued at approximately $145,000.

Several other large investors also recently modified their holdings of AZEK. ORG Wealth Partners LLC acquired a new stake in AZEK in the 3rd quarter valued at $31,000. Farther Finance Advisors LLC lifted its holdings in shares of 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 acquiring an additional 487 shares during the period. Paladin Wealth LLC acquired a new stake in shares of AZEK in the 3rd quarter valued at $39,000. Blue Trust Inc. grew its holdings in shares of AZEK by 106.4% in the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after purchasing an additional 480 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AZEK during the 3rd quarter worth about $59,000. 97.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on AZEK. Benchmark restated a “buy” rating and issued a $55.00 price target on shares of AZEK in a research report on Thursday, November 21st. Robert W. Baird increased their price target on AZEK from $52.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price objective on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Truist Financial increased their target price on AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Barclays lifted their price target on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.67.

AZEK Trading Down 0.8 %

AZEK opened at $53.51 on Monday. The AZEK Company Inc. has a fifty-two week low of $35.38 and a fifty-two week high of $54.91. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 51.45, a price-to-earnings-growth ratio of 2.40 and a beta of 1.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.14. The firm has a 50 day simple moving average of $47.66 and a 200 day simple moving average of $45.00.

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.