Royal Bank of Canada Issues Positive Forecast for AZEK (NYSE:AZEK) Stock Price

AZEK (NYSE:AZEK) had its price objective raised by Royal Bank of Canada from $50.00 to $58.00 in a report published on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

AZEK has been the subject of several other research reports. Barclays increased their target price on shares of AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group upped their price objective on shares of AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird lifted their target price on shares of AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Truist Financial upped their price target on AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, 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 research note on Wednesday, November 20th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.67.

AZEK Price Performance

NYSE:AZEK opened at $53.56 on Friday. AZEK has a 52 week low of $35.38 and a 52 week high of $54.91. The stock’s fifty day moving average is $47.66 and its two-hundred day moving average is $45.02. The company has a market capitalization of $7.66 billion, a P/E ratio of 51.50, a P/E/G ratio of 2.40 and a beta of 1.92. The company has a quick ratio of 1.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.32.

Institutional Trading of AZEK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AZEK. ORG Wealth Partners LLC purchased a new position in shares of AZEK in the 3rd quarter valued at $31,000. Farther Finance Advisors LLC increased its position in shares of AZEK by 183.1% during the third quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock worth $35,000 after purchasing an additional 487 shares in the last quarter. Paladin Wealth LLC purchased a new stake in shares of AZEK in the 3rd quarter valued at about $39,000. Blue Trust Inc. grew its stake in AZEK by 106.4% during the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after buying an additional 480 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in AZEK during the third quarter worth approximately $59,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

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.