AZEK (NYSE:AZEK) Given New $58.00 Price Target at JPMorgan Chase & Co.

AZEK (NYSE:AZEK) had its target price increased by JPMorgan Chase & Co. from $48.00 to $58.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts also recently issued reports about the stock. Barclays lifted their price target on shares of AZEK from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. DA Davidson boosted their price target on shares of AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Truist Financial upped their price target on shares of AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. UBS Group decreased their price objective on AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Royal Bank of Canada increased their target price on AZEK from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.82.

AZEK Price Performance

Shares of AZEK stock opened at $53.34 on Monday. The business’s 50-day moving average price is $45.59 and its 200-day moving average price is $44.33. The firm has a market capitalization of $7.72 billion, a PE ratio of 51.29, a price-to-earnings-growth ratio of 2.29 and a beta of 1.88. AZEK has a 12 month low of $31.17 and a 12 month high of $54.16. The company has a current ratio of 2.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in shares of AZEK by 33.8% during the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after buying an additional 3,595,863 shares during the period. FMR LLC raised 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 acquiring an additional 2,497,074 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of AZEK in the 2nd quarter valued at approximately $86,719,000. Price T Rowe Associates Inc. MD boosted its position in shares of AZEK by 66.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock valued at $73,631,000 after purchasing an additional 587,107 shares in the last quarter. Finally, Interval Partners LP boosted its position in shares of AZEK by 162.4% during the second quarter. Interval Partners LP now owns 742,749 shares of the company’s stock valued at $31,292,000 after purchasing an additional 459,664 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors.

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.