The AZEK Company Inc. (NYSE:AZEK) Short Interest Update

The AZEK Company Inc. (NYSE:AZEK) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 5,630,000 shares, a growth of 7.4% from the October 15th total of 5,240,000 shares. Based on an average daily trading volume, of 1,540,000 shares, the days-to-cover ratio is presently 3.7 days. Currently, 4.0% of the shares of the stock are sold short.

Institutional Investors Weigh In On AZEK

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in AZEK by 33.8% in 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. Vanguard Group Inc. boosted its holdings in AZEK by 3.2% in the first quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock worth $677,082,000 after purchasing an additional 413,297 shares during the last quarter. FMR LLC boosted 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 last quarter. State Street Corp boosted its holdings in AZEK by 1.9% in the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock worth $114,729,000 after purchasing an additional 45,774 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of AZEK by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company’s stock worth $99,175,000 after acquiring an additional 118,351 shares during the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Analysts Set New Price Targets

AZEK has been the subject of several research analyst reports. Stifel Nicolaus dropped their price objective on shares of AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Loop Capital downgraded AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target for the company. in a research report on Friday, October 4th. UBS Group lowered their price target on AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets boosted their price target on AZEK from $46.00 to $49.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial decreased their price target on shares of AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, AZEK currently has an average rating of “Moderate Buy” and an average price target of $48.12.

AZEK Trading Up 1.3 %

Shares of AZEK stock opened at $46.25 on Tuesday. AZEK has a 12-month low of $30.76 and a 12-month high of $50.78. The company has a current ratio of 3.07, a quick ratio of 2.11 and a debt-to-equity ratio of 0.41. The firm’s 50 day moving average is $44.91 and its 200 day moving average is $44.20. The stock has a market capitalization of $6.69 billion, a P/E ratio of 40.93, a P/E/G ratio of 1.18 and a beta of 1.88.

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.