Kornitzer Capital Management Inc. KS Sells 47,800 Shares of The AZEK Company Inc. (NYSE:AZEK)

Kornitzer Capital Management Inc. KS lessened its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 20.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,970 shares of the company’s stock after selling 47,800 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.13% of AZEK worth $8,937,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Tidal Investments LLC boosted its position in shares of AZEK by 3.7% in the 1st quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock worth $355,000 after purchasing an additional 251 shares in the last quarter. Creative Planning grew its stake in shares of AZEK by 6.6% during the third quarter. Creative Planning now owns 6,987 shares of the company’s stock worth $327,000 after acquiring an additional 430 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of AZEK by 106.4% during the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after acquiring an additional 480 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of AZEK by 183.1% in 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, Signaturefd LLC boosted its stake in AZEK by 32.7% in the 2nd quarter. Signaturefd LLC now owns 2,157 shares of the company’s stock worth $91,000 after purchasing an additional 532 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Insiders Place Their Bets

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the firm’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 transaction, the chief executive officer now directly owns 186,705 shares of the company’s stock, valued at $7,742,656.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Pamela J. Edwards acquired 600 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $41.70 per share, with a total value of $25,020.00. Following the completion of the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $41.47, for a total transaction of $829,400.00. Following the transaction, the chief executive officer now directly owns 186,705 shares in the company, valued at $7,742,656.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AZEK. Truist Financial lowered their price objective on shares of AZEK from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Loop Capital downgraded 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. Barclays reduced their price objective on AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Stifel Nicolaus decreased their target price on AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Royal Bank of Canada cut their price objective on shares of AZEK from $49.00 to $46.00 and set an “outperform” 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AZEK currently has an average rating of “Moderate Buy” and an average price target of $48.12.

AZEK Trading Up 2.4 %

AZEK stock opened at $46.56 on Friday. The AZEK Company Inc. has a 12-month low of $27.81 and a 12-month high of $50.78. The business’s 50-day moving average is $44.17 and its 200 day moving average is $44.17. 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 stock has a market cap of $6.74 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 1.14 and a beta of 1.88.

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. The firm had revenue of $434.40 million during the quarter, compared to analysts’ expectations of $396.89 million. AZEK had a return on equity of 13.38% and a net margin of 11.35%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 earnings per share. On average, sell-side analysts anticipate that The AZEK Company Inc. will post 1.05 EPS for the current fiscal year.

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.