AZEK (NYSE:AZEK) Price Target Raised to $50.00 at Royal Bank of Canada

AZEK (NYSE:AZEK) had its price target hoisted by analysts at Royal Bank of Canada from $46.00 to $50.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 1.94% from the company’s current price.

A number of other research analysts have also recently commented on the company. Benchmark reaffirmed a “buy” rating and set a $55.00 price target on shares of AZEK in a research report on Friday, August 9th. Stifel Nicolaus cut their target price on shares of AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. DA Davidson lifted their target price on shares of AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday. UBS Group dropped their price target on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Loop Capital lowered shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price objective for the company. in a research note on Friday, October 4th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, AZEK currently has a consensus rating of “Moderate Buy” and an average price target of $48.59.

AZEK Stock Performance

Shares of AZEK stock traded up $2.59 during mid-day trading on Wednesday, hitting $49.05. 1,056,937 shares of the stock were exchanged, compared to its average volume of 1,686,428. AZEK has a 12 month low of $30.76 and a 12 month high of $50.78. The company has a 50-day simple moving average of $45.00 and a 200 day simple moving average of $44.20. The company has a market capitalization of $7.10 billion, a P/E ratio of 43.41, a P/E/G 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.

Institutional Investors Weigh In On AZEK

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Equitable Trust Co. increased its stake in AZEK by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 10,346 shares of the company’s stock worth $484,000 after buying an additional 226 shares in the last quarter. Tidal Investments LLC boosted its stake in AZEK by 3.7% during the 1st quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock worth $355,000 after purchasing an additional 251 shares during the last quarter. Creative Planning boosted its stake in AZEK by 6.6% during 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 last quarter. Covestor Ltd raised its position in shares of AZEK by 18.8% in the third quarter. Covestor Ltd now owns 2,758 shares of the company’s stock valued at $129,000 after buying an additional 436 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of AZEK by 106.4% in the third 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. Hedge funds and other institutional investors own 97.44% of the company’s stock.

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.