Benchmark Reiterates “Buy” Rating for AZEK (NYSE:AZEK)

AZEK (NYSE:AZEK)‘s stock had its “buy” rating reaffirmed by Benchmark in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $55.00 target price on the stock. Benchmark’s target price indicates a potential upside of 13.47% from the stock’s current price.

AZEK has been the topic of several other research reports. Barclays raised their price objective on AZEK from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday. BMO Capital Markets lifted their price objective on AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on AZEK from $52.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Loop Capital lowered shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target on the stock. in a research note on Friday, October 4th. Finally, Stifel Nicolaus lowered their price objective 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. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AZEK currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.24.

AZEK Trading Up 0.5 %

NYSE AZEK traded up $0.25 during trading on Thursday, reaching $48.47. 313,914 shares of the stock traded hands, compared to its average volume of 1,690,833. AZEK has a fifty-two week low of $31.16 and a fifty-two week high of $50.78. The company has a quick ratio of 2.11, a current ratio of 3.07 and a debt-to-equity ratio of 0.41. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 46.25, a price-to-earnings-growth ratio of 1.20 and a beta of 1.88. The stock’s 50-day moving average price is $45.13 and its 200 day moving average price is $44.23.

Institutional Trading of AZEK

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Equitable Trust Co. raised its holdings in shares of AZEK by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 10,346 shares of the company’s stock valued at $484,000 after purchasing an additional 226 shares during the period. Tidal Investments LLC increased its position in AZEK by 3.7% during the first quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock worth $355,000 after buying an additional 251 shares during the last quarter. Creative Planning increased its position in AZEK by 6.6% during the third quarter. Creative Planning now owns 6,987 shares of the company’s stock worth $327,000 after buying an additional 430 shares during the last quarter. Covestor Ltd lifted 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. boosted 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 acquiring an additional 480 shares during the period. 97.44% of the stock is owned by institutional investors.

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.