AZEK (NYSE:AZEK) Reaches New 52-Week High on Analyst Upgrade

The AZEK Company Inc. (NYSE:AZEK - Get Free Report)'s share price hit a new 52-week high on Thursday after The Goldman Sachs Group raised their price target on the stock from $52.00 to $59.00. The Goldman Sachs Group currently has a buy rating on the stock. AZEK traded as high as $54.91 and last traded at $54.40, with a volume of 32523 shares traded. The stock had previously closed at $54.76.

Several other analysts have also issued reports on AZEK. Royal Bank of Canada lifted their target price 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. Benchmark reiterated a "buy" rating and set a $55.00 price objective on shares of AZEK in a research note on Thursday, November 21st. Truist Financial raised their target price on AZEK from $52.00 to $57.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th. Barclays boosted their price target on AZEK from $58.00 to $64.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of AZEK from $48.00 to $58.00 and gave the company an "overweight" rating in a report on Monday, November 25th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $51.56.

Hedge Funds Weigh In On AZEK

A number of hedge funds have recently modified their holdings of the business. ORG Wealth Partners LLC purchased a new position in shares of AZEK in the 3rd quarter valued at approximately $31,000. Farther Finance Advisors LLC grew its position in AZEK by 183.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 753 shares of the company's stock valued at $35,000 after buying an additional 487 shares during the last quarter. Paladin Wealth LLC acquired a new position in AZEK during the 3rd quarter worth approximately $39,000. Blue Trust Inc. raised its stake in shares of AZEK by 106.4% during the 3rd 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. purchased a new stake in shares of AZEK in the third quarter valued at approximately $59,000. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

AZEK Price Performance

The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 52.19, a price-to-earnings-growth ratio of 2.39 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 stock has a fifty day moving average of $47.30 and a two-hundred day moving average of $44.91.

AZEK Company Profile

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.