Kornitzer Capital Management Inc. KS Trims Position in The AZEK Company Inc. (NYSE:AZEK)

Kornitzer Capital Management Inc. KS reduced its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 20.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 190,970 shares of the company's stock after selling 47,800 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.13% of AZEK worth $8,937,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AZEK. ORG Wealth Partners LLC purchased a new stake in shares of AZEK during the 3rd quarter valued at $31,000. ORG Partners LLC purchased a new stake in shares of AZEK during the 1st quarter valued at $35,000. Whittier Trust Co. purchased a new stake in shares of AZEK during the 1st quarter valued at $37,000. Farther Finance Advisors LLC increased its position in shares of AZEK by 183.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 753 shares of the company's stock valued at $35,000 after purchasing an additional 487 shares during the last quarter. Finally, Paladin Wealth LLC purchased a new stake in shares of AZEK during the 3rd quarter valued at $39,000. 97.44% of the stock is owned by hedge funds and other institutional investors.

AZEK Price Performance

NYSE:AZEK traded up $0.49 during mid-day trading on Friday, reaching $47.04. The stock had a trading volume of 772,272 shares, compared to its average volume of 1,705,869. The firm has a 50 day moving average price of $44.17 and a two-hundred day moving average price of $44.17. The stock has a market capitalization of $6.81 billion, a P/E ratio of 41.20, a P/E/G ratio of 1.14 and a beta of 1.88. The AZEK Company Inc. has a one year low of $27.81 and a one year high of $50.78. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07.

AZEK (NYSE:AZEK - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. AZEK had a return on equity of 13.38% and a net margin of 11.35%. The company had revenue of $434.40 million during the quarter, compared to the consensus estimate of $396.89 million. During the same quarter in the previous year, the company posted $0.29 EPS. AZEK's quarterly revenue was up 12.1% compared to the same quarter last year. As a group, analysts expect that The AZEK Company Inc. will post 1.05 earnings per share for the current year.

Insider Buying and Selling at AZEK

In related news, Director Pamela J. Edwards acquired 600 shares of the stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $41.70 per share, for a total transaction of $25,020.00. Following the completion of the transaction, the director now owns 8,708 shares of the company's stock, valued at $363,123.60. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Pamela J. Edwards acquired 600 shares of the stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $41.70 per share, for a total transaction of $25,020.00. Following the completion of the transaction, the director now owns 8,708 shares of the company's stock, valued at $363,123.60. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jesse G. Singh sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $41.47, for a total value of $829,400.00. Following the completion of the sale, the chief executive officer now owns 186,705 shares of the company's stock, valued at $7,742,656.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada decreased their target price on AZEK from $49.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. BMO Capital Markets increased their price target on AZEK from $46.00 to $49.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 22nd. Stifel Nicolaus cut their price target on AZEK from $52.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Truist Financial cut their price target on AZEK from $57.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Finally, UBS Group cut their price target on AZEK from $47.00 to $43.00 and set a "neutral" rating for the company in a research note on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, AZEK has an average rating of "Moderate Buy" and an average target price of $48.12.

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.