AZEK (NYSE:AZEK) Given New $59.00 Price Target at The Goldman Sachs Group

AZEK (NYSE:AZEK) had its price target raised by The Goldman Sachs Group from $52.00 to $59.00 in a report published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other analysts have also weighed in on the stock. Truist Financial boosted their target price on shares of AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. upped their price objective on shares of AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Royal Bank of Canada upped their price objective on AZEK from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Robert W. Baird increased their price objective on AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Finally, Benchmark restated a “buy” rating and set a $55.00 price target on shares of AZEK in a report on Thursday, November 21st. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, AZEK currently has a consensus rating of “Moderate Buy” and an average price target of $52.13.

AZEK Stock Performance

NYSE AZEK opened at $53.97 on Thursday. AZEK has a 1-year low of $34.96 and a 1-year high of $54.91. The business’s 50-day simple moving average is $47.46 and its 200-day simple moving average is $44.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.14. The firm has a market capitalization of $7.72 billion, a P/E ratio of 51.89, a P/E/G ratio of 2.40 and a beta of 1.92.

Institutional Investors Weigh In On AZEK

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP raised 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 worth $665,702,000 after acquiring an additional 3,595,863 shares during the last quarter. FMR LLC grew its holdings in AZEK by 57.9% in the third quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after purchasing an additional 2,497,074 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in AZEK in the 2nd quarter valued at about $86,719,000. Interval Partners LP raised 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 worth $31,292,000 after purchasing an additional 459,664 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in AZEK by 73.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,006,253 shares of the company’s stock worth $47,093,000 after buying an additional 425,609 shares during the last quarter. Institutional investors and hedge funds 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.