Royal Bank of Canada Raises AZEK (NYSE:AZEK) Price Target to $58.00

AZEK (NYSE:AZEK - Free Report) had its target price increased by Royal Bank of Canada from $50.00 to $58.00 in a report released on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

AZEK has been the subject of a number of other research reports. The Goldman Sachs Group raised their price objective on shares of AZEK from $52.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday. Benchmark reiterated a "buy" rating and set a $55.00 target price on shares of AZEK in a research report on Thursday, November 21st. BMO Capital Markets increased their price target on shares of AZEK from $49.00 to $51.00 and gave the company a "market perform" rating in a research report on Wednesday, November 20th. Robert W. Baird raised their target price on shares of AZEK from $52.00 to $54.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Finally, Loop Capital lowered AZEK from a "buy" rating to a "hold" rating and set a $47.00 price target for the company. in a research note on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.67.

AZEK Stock Down 0.7 %

AZEK traded down $0.40 during midday trading on Friday, reaching $53.56. 1,298,589 shares of the company were exchanged, compared to its average volume of 1,684,378. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 51.50, a price-to-earnings-growth ratio of 2.40 and a beta of 1.92. The company's fifty day moving average price is $47.66 and its 200 day moving average price is $45.02. AZEK has a one year low of $35.38 and a one year high of $54.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 2.17.

Institutional Investors Weigh In On AZEK

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Equitable Trust Co. raised its stake in AZEK by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 10,346 shares of the company's stock valued at $484,000 after purchasing an additional 226 shares during the period. Creative Planning raised its position in AZEK by 6.6% in the 3rd quarter. Creative Planning now owns 6,987 shares of the company's stock worth $327,000 after purchasing an additional 430 shares during the period. Covestor Ltd lifted its holdings in AZEK by 18.8% during the 3rd quarter. Covestor Ltd now owns 2,758 shares of the company's stock valued at $129,000 after buying an additional 436 shares in the last quarter. Blue Trust Inc. lifted its stake 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 acquiring an additional 480 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in AZEK by 183.1% in 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 during the last quarter. 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.