Barclays Increases AZEK (NYSE:AZEK) Price Target to $64.00

AZEK (NYSE:AZEK - Get Free Report) had its price target boosted by analysts at Barclays from $58.00 to $64.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price would indicate a potential upside of 16.87% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Loop Capital lowered shares of AZEK from a "buy" rating to a "hold" rating and set a $47.00 price target for the company. in a report on Friday, October 4th. Truist Financial boosted their price objective on shares of AZEK from $52.00 to $57.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. BMO Capital Markets increased their target price on 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 upped their price objective on AZEK from $52.00 to $54.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lifted their target price on AZEK from $48.00 to $58.00 and gave the company an "overweight" rating in a research note on Monday, November 25th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.00.

AZEK Trading Up 2.3 %

AZEK traded up $1.25 on Wednesday, reaching $54.76. 1,103,716 shares of the company traded hands, compared to its average volume of 1,688,093. The company has a market cap of $7.83 billion, a P/E ratio of 52.65, 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. AZEK has a one year low of $34.64 and a one year high of $54.77. The firm has a fifty day simple moving average of $47.30 and a two-hundred day simple moving average of $44.91.

Institutional Trading of AZEK

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its holdings in shares of AZEK by 33.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company's stock valued at $665,702,000 after purchasing an additional 3,595,863 shares in the last quarter. FMR LLC increased its holdings in AZEK by 57.9% in the third quarter. FMR LLC now owns 6,811,591 shares of the company's stock valued at $318,782,000 after buying an additional 2,497,074 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in AZEK in the second quarter valued at $86,719,000. Interval Partners LP raised its position in shares of AZEK by 162.4% in the second quarter. Interval Partners LP now owns 742,749 shares of the company's stock worth $31,292,000 after acquiring an additional 459,664 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of AZEK by 73.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,006,253 shares of the company's stock valued at $47,093,000 after acquiring an additional 425,609 shares during the period. Institutional investors and hedge funds 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.