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

The AZEK Company Inc. (NYSE:AZEK) was the target of a large growth in short interest in 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. Based on an average daily trading volume, of 1,540,000 shares, the days-to-cover ratio is presently 3.7 days. Approximately 4.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

AZEK has been the subject of several research analyst reports. Truist Financial dropped 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. Benchmark reissued a “buy” rating and set a $55.00 price objective on shares of AZEK in a report on Friday, August 9th. Loop Capital downgraded shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a research note on Friday, October 4th. Royal Bank of Canada cut their price target on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, BMO Capital Markets increased their price target on shares of AZEK from $46.00 to $49.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $48.12.

AZEK Trading Down 1.5 %

Shares of AZEK stock traded down $0.68 during mid-day trading on Tuesday, reaching $45.62. The stock had a trading volume of 74,993 shares, compared to its average volume of 1,682,105. The company has a current ratio of 3.07, a quick ratio of 2.11 and a debt-to-equity ratio of 0.41. The stock’s 50-day moving average price is $44.91 and its two-hundred day moving average price is $44.20. The firm has a market capitalization of $6.60 billion, a PE ratio of 40.93, a price-to-earnings-growth ratio of 1.18 and a beta of 1.88. AZEK has a 52-week low of $30.76 and a 52-week high of $50.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ORG Wealth Partners LLC bought a new stake in shares of AZEK in the 3rd quarter worth approximately $31,000. Farther Finance Advisors LLC boosted its holdings 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 acquiring an additional 487 shares in the last quarter. Paladin Wealth LLC bought a new stake in AZEK in the third quarter valued at $39,000. Blue Trust Inc. increased its position in AZEK by 106.4% during the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after purchasing an additional 480 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of AZEK by 5,452.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,277 shares of the company’s stock worth $54,000 after purchasing an additional 1,254 shares during the period. 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.