Kornitzer Capital Management Inc. KS Has $10.06 Million Holdings in The AZEK Company Inc. (NYSE:AZEK)

Kornitzer Capital Management Inc. KS trimmed its position in The AZEK Company Inc. (NYSE:AZEK) by 20.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,770 shares of the company’s stock after selling 62,845 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.16% of AZEK worth $10,059,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AZEK. Amalgamated Bank raised its position in AZEK by 5.9% in the fourth quarter. Amalgamated Bank now owns 27,634 shares of the company’s stock worth $1,057,000 after purchasing an additional 1,529 shares in the last quarter. M&T Bank Corp acquired a new position in shares of AZEK in the 4th quarter worth approximately $223,000. Charles Schwab Investment Management Inc. lifted its position in shares of AZEK by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,092,176 shares of the company’s stock worth $41,776,000 after buying an additional 20,912 shares during the period. Principal Securities Inc. acquired a new stake in AZEK in the 4th quarter valued at $44,000. Finally, Versor Investments LP acquired a new stake in AZEK in the 4th quarter valued at $252,000. 97.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AZEK has been the subject of a number of analyst reports. Citigroup cut their price objective on AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. JPMorgan Chase & Co. cut their price target on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. The Goldman Sachs Group decreased their price objective on shares of AZEK from $56.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Loop Capital cut their target price on shares of AZEK from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, DA Davidson lowered AZEK from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $57.00 to $44.00 in a research report on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AZEK has a consensus rating of “Moderate Buy” and an average price target of $48.24.

Insider Buying and Selling at AZEK

In other news, insider Jonathan Skelly sold 12,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total value of $560,640.00. Following the transaction, the insider now directly owns 190,134 shares in the company, valued at approximately $8,883,060.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jonathan Skelly sold 12,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total value of $560,640.00. Following the sale, the insider now directly owns 190,134 shares in the company, valued at approximately $8,883,060.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total transaction of $542,750.00. Following the transaction, the chief executive officer now directly owns 1,024,444 shares in the company, valued at approximately $42,770,537. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,000 shares of company stock worth $1,932,790. Insiders own 3.10% of the company’s stock.

AZEK Price Performance

Shares of AZEK stock opened at $41.27 on Friday. The company has a quick ratio of 2.11, a current ratio of 3.07 and a debt-to-equity ratio of 0.41. The AZEK Company Inc. has a 12 month low of $25.03 and a 12 month high of $50.78. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 1.32 and a beta of 1.87. The stock has a 50-day moving average price of $42.20 and a 200 day moving average price of $45.31.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. AZEK had a net margin of 11.35% and a return on equity of 13.38%. The company had revenue of $434.40 million during the quarter, compared to analysts’ expectations of $396.89 million. During the same quarter in the previous year, the company earned $0.29 EPS. AZEK’s revenue was up 12.1% on a year-over-year basis. Research analysts expect that The AZEK Company Inc. will post 1.05 EPS for the current year.

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.