Zurcher Kantonalbank Zurich Cantonalbank Buys 31,193 Shares of The AZEK Company Inc. (NYSE:AZEK)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in The AZEK Company Inc. (NYSE:AZEK) by 105.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,798 shares of the company’s stock after purchasing an additional 31,193 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AZEK were worth $2,845,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. ORG Wealth Partners LLC acquired a new stake in AZEK in the third quarter valued at about $31,000. Farther Finance Advisors LLC boosted its stake in AZEK by 183.1% in the third quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock valued at $35,000 after buying an additional 487 shares in the last quarter. Paladin Wealth LLC acquired a new stake in AZEK in the third quarter valued at about $39,000. Blue Trust Inc. boosted its stake in AZEK by 106.4% in the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after buying an additional 480 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in AZEK in the second quarter valued at about $90,000. Institutional investors own 97.44% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays raised their price objective on AZEK from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Robert W. Baird lifted their price target on AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Truist Financial lifted their price target on 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. lifted their price target on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, Benchmark reissued a “buy” rating and set a $55.00 price target on shares of AZEK in a research note on Thursday, November 21st. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, AZEK currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.82.

AZEK Price Performance

Shares of AZEK opened at $53.73 on Wednesday. The AZEK Company Inc. has a 1 year low of $34.02 and a 1 year high of $54.16. 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 company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 51.66, a price-to-earnings-growth ratio of 2.33 and a beta of 1.92. The business has a 50-day moving average of $46.26 and a 200-day moving average of $44.55.

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.