The AZEK Company Inc. (NYSE:AZEK) Short Interest Update

The AZEK Company Inc. (NYSE:AZEK - Get Free Report) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 5,630,000 shares, a growth of 7.4% from the October 15th total of 5,240,000 shares. Approximately 4.0% of the company's stock are short sold. Based on an average daily volume of 1,540,000 shares, the short-interest ratio is currently 3.7 days.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AZEK. BMO Capital Markets upped their price objective on shares of AZEK from $46.00 to $49.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 22nd. Benchmark reaffirmed a "buy" rating and set a $55.00 price target on shares of AZEK in a research report on Friday, August 9th. JPMorgan Chase & Co. cut their price objective on AZEK from $52.00 to $48.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 13th. Truist Financial reduced their price objective on AZEK from $57.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Finally, Stifel Nicolaus lowered their target price on AZEK from $52.00 to $50.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Six investment 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 currently has an average rating of "Moderate Buy" and an average target price of $48.12.

Hedge Funds Weigh In On AZEK

Several hedge funds and other institutional investors have recently modified their holdings of AZEK. Wellington Management Group LLP grew its stake in shares of AZEK by 33.8% in the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company's stock worth $665,702,000 after purchasing an additional 3,595,863 shares during the last quarter. Vanguard Group Inc. grew its position in shares of AZEK by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company's stock worth $677,082,000 after buying an additional 413,297 shares during the last quarter. FMR LLC grew its position 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 buying an additional 2,497,074 shares during the last quarter. State Street Corp raised its holdings in shares of AZEK by 1.9% during the third quarter. State Street Corp now owns 2,451,483 shares of the company's stock valued at $114,729,000 after acquiring an additional 45,774 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in AZEK by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company's stock worth $99,175,000 after acquiring an additional 118,351 shares during the period. 97.44% of the stock is owned by institutional investors.

AZEK Trading Up 0.3 %

NYSE:AZEK traded up $0.16 during midday trading on Tuesday, reaching $46.46. 1,770,996 shares of the stock traded hands, compared to its average volume of 1,689,674. The stock has a market capitalization of $6.72 billion, a P/E ratio of 40.93, a PEG ratio of 1.18 and a beta of 1.88. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07. The company has a fifty day moving average of $44.91 and a 200 day moving average of $44.20. AZEK has a 12 month low of $30.76 and a 12 month high of $50.78.

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.