The Goldman Sachs Group Forecasts Strong Price Appreciation for AZEK (NYSE:AZEK) Stock

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

Several other brokerages have also issued reports on AZEK. Benchmark restated a “buy” rating and issued a $55.00 target price on shares of AZEK in a research note on Thursday, November 21st. DA Davidson increased their target price on shares of AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lifted their target price on shares of AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Loop Capital cut 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, Barclays lifted their price objective on shares of AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.13.

AZEK Trading Down 1.4 %

Shares of AZEK stock opened at $53.97 on Thursday. The firm has a market cap of $7.72 billion, a PE ratio of 51.89, a P/E/G ratio of 2.40 and a beta of 1.92. The stock has a fifty day moving average price of $47.46 and a 200-day moving average price of $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. AZEK has a 1 year low of $34.96 and a 1 year high of $54.91.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in 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 purchasing an additional 3,595,863 shares during the last quarter. FMR LLC lifted its position in 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 buying an additional 2,497,074 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in AZEK in the second quarter worth approximately $86,719,000. Interval Partners LP grew its position in 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 acquiring an additional 459,664 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of 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 acquiring an additional 425,609 shares in the last quarter. 97.44% of the stock is currently owned by hedge funds and other 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.