AZEK (NYSE:AZEK) Sets New 52-Week High - Still a Buy?

The AZEK Company Inc. (NYSE:AZEK - Get Free Report)'s share price reached a new 52-week high on Friday . The stock traded as high as $54.69 and last traded at $54.65, with a volume of 72814 shares traded. The stock had previously closed at $53.48.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. BMO Capital Markets lifted their price objective on AZEK from $49.00 to $51.00 and gave the company a "market perform" rating in a research note on Wednesday, November 20th. DA Davidson raised their price target on AZEK from $44.00 to $50.00 and gave the company a "neutral" rating in a report on Wednesday, November 20th. Robert W. Baird upped their price target 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. Benchmark restated a "buy" rating and set a $55.00 price objective on shares of AZEK in a research note on Thursday, November 21st. Finally, Royal Bank of Canada upped their target price on shares of AZEK from $46.00 to $50.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, AZEK currently has an average rating of "Moderate Buy" and a consensus target price of $49.82.

AZEK Stock Performance

The company has a market cap of $7.75 billion, a P/E ratio of 51.42, a P/E/G ratio of 2.36 and a beta of 1.92. 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 business has a fifty day simple moving average of $46.70 and a two-hundred day simple moving average of $44.73.

Hedge Funds Weigh In On AZEK

A number of institutional investors and hedge funds have recently made changes to their positions in AZEK. Wellington Management Group LLP increased its holdings in AZEK by 33.8% during the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company's stock valued at $665,702,000 after buying an additional 3,595,863 shares during the last quarter. FMR LLC increased its stake in shares of AZEK by 57.9% in the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company's stock worth $318,782,000 after purchasing an additional 2,497,074 shares in the last quarter. State Street Corp raised its holdings 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. Dimensional Fund Advisors LP lifted its position in AZEK by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company's stock valued at $99,175,000 after purchasing an additional 118,351 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in AZEK by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company's stock valued at $109,105,000 after purchasing an additional 12,644 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company's stock.

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.