The AZEK® Company Inc. is an industry-leading designer and manufacturer of beautiful, low-maintenance residential and commercial building products and is committed to innovation, sustainability and research & development. Headquartered in Chicago, Illinois, the company operates manufacturing facilities in Ohio, Pennsylvania and Minnesota.

Company profile
Ticker
AZEK
Exchange
Website
CEO
Jesse G. Singh
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CPG Newco LLC
SEC CIK
Corporate docs
Subsidiaries
CPG International LLC • Vycom Corp. • Scranton Products Inc. • Sanatec Sub I Corporation • Santana Products Inc. • CPG Sub I Corporation • CPG Building Products LLC • WES, LLC • UltraLox Technology, LLC • Versatex Holdings, LLC ...
IRS number
901017663
AZEK stock data
News

Trex's Price Target Cut By Several Analysts After Q2 Results
9 Aug 22
Azek Gets Mixed Reactions From Analysts On Q3 Results
8 Aug 22
What 16 Analyst Ratings Have To Say About AZEK
8 Aug 22
Benzinga's Top Ratings Upgrades, Downgrades For August 8, 2022
8 Aug 22
Stephens & Co. Maintains Overweight on AZEK Co, Raises Price Target to $26
8 Aug 22
Press releases
The AZEK Company Announces Third Quarter Fiscal 2022 Financial Results
4 Aug 22
The AZEK® Company Announces August 2022 Investor Conference Schedule
26 Jul 22
The AZEK® Company Inc. Announces Fiscal Third Quarter 2022 Earnings Release and Investor Conference Call on August 4, 2022
18 Jul 22
The AZEK® Company Releases 2021 "FULL-CIRCLE" Environmental, Social and Governance (ESG) Report
1 Jul 22
TimberTech® Celebrates the Start of Decking Season with Real Estate Experts Egypt Sherrod and Mike Jackson
2 Jun 22
Analyst ratings and price targets
Current price
Average target
$25.56
Low target
$21.00
High target
$30.00
Stephens & Co.
Maintains
$26.00
Wedbush
Downgraded
$21.00
Barclays
Maintains
$28.00
JP Morgan
Maintains
$24.00
Goldman Sachs
Maintains
$23.00
Citigroup
Maintains
$23.00
Stifel
Maintains
$27.00
Truist Securities
Maintains
$30.00
Baird
Maintains
$28.00
Calendar
5 Aug 22
16 Aug 22
30 Sep 22
Financial summary
Quarter (USD) | Jun 22 | Mar 22 | Dec 21 | Sep 21 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Sep 21 | Sep 20 | |
---|---|---|---|
Revenue | |||
Cost of revenue | |||
Operating income | |||
Operating margin | |||
Net income | |||
Net profit margin | |||
Cash on hand | |||
Change in cash | |||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 159.62M | 159.62M | 159.62M | 159.62M | 159.62M | 159.62M |
Cash burn (monthly) | (no burn) | 5.07M | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | n/a | 8.02M | n/a | n/a | n/a | n/a |
Cash remaining | n/a | 151.6M | n/a | n/a | n/a | n/a |
Runway (months of cash) | n/a | 29.9 | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
2 Aug 22 | Clifford Peter G | Class A Common Stock | Payment of exercise | Dispose F | No | No | 20.32 | 2,411 | 48.99K | 41,341 |
1 Jul 22 | Jonathan Skelly | Class A Common Stock | Grant | Acquire A | No | No | 0 | 1,079 | 0 | 226,173 |
1 Jul 22 | Jonathan Skelly | NQSO Class A Common Stock | Grant | Acquire A | No | No | 17.39 | 2,494 | 43.37K | 2,494 |
1 Jun 22 | Morgan Walbridge | Class A Common Stock | Grant | Acquire A | No | No | 0 | 3,629 | 0 | 7,476 |
1 Jun 22 | Morgan Walbridge | NQSO Class A Common Stock | Grant | Acquire A | No | No | 20.67 | 8,466 | 174.99K | 8,466 |
16 May 22 | Vernon J Nagel | Class A Common Stock | Buy | Acquire P | No | No | 18.89 | 5,000 | 94.45K | 22,950 |
5 May 22 | Vernon J Nagel | Class A Common Stock | Grant | Acquire A | No | No | 0 | 976 | 0 | 17,950 |
Institutional ownership, Q1 2022
13F holders | Current |
---|---|
Total holders | 265 |
Opened positions | 61 |
Closed positions | 61 |
Increased positions | 117 |
Reduced positions | 62 |
13F shares | Current |
---|---|
Total value | 3.79B |
Total shares | 151.5M |
Total puts | 273.3K |
Total calls | 917.5K |
Total put/call ratio | 0.3 |
Largest owners | Shares | Value |
---|---|---|
ARES Ares Management | 19.1M | $474.35M |
Ontario Teachers Pension Plan Board | 19.1M | $474.34M |
BLK Blackrock | 12.72M | $315.97M |
Vanguard | 9.86M | $245.03M |
Massachusetts Financial Services | 7.93M | $196.99M |
FMR | 5.07M | $125.97M |
IPXAF Impax Asset Management | 3.99M | $98.72M |
Eaton Vance Management | 3.28M | $81.48M |
Brown Advisory | 3.07M | $78.79M |
Alliancebernstein | 2.97M | $73.71M |
Financial report summary
?Competition
Cornerstone Building BrandsRisks
- Demand for our products is significantly influenced by general economic conditions and trends in consumer spending on outdoor living and home exteriors, and adverse trends in, among other things, the health of the economy, repair and remodel and new construction activity, industrial production, consumer confidence and discretionary spending and institutional funding constraints could have a material adverse effect on our business.
- Shortages and disruptions in supply, price increases or deviations in the quality of the raw materials used to manufacture our products could adversely affect our sales and operating results.
- We operate in a competitive business environment. If we are unable to compete effectively, our sales would suffer and our business, financial condition and operating results would be adversely affected.
- If we fail to develop new and improved products successfully, or if we fail to effectively manage the introduction of new products, our business will suffer.
- Our business would suffer if we do not effectively manage changes in our manufacturing processes resulting from the growth and expansion of our business and operations, including with respect to new manufacturing facilities, cost-savings and integration initiatives and the introduction of new technologies and products.
- Our sales and results of operations may suffer if we do not maintain our relationships with, forecast the demand of and make timely deliveries to our key distributors or other customers.
- An interruption of our production capability at one or more of our manufacturing facilities from pandemics, accident, calamity or other causes, or events affecting the global economy, could adversely affect our business.
- Our business operations could be adversely affected by the loss of the services from members of our senior management team and other key employees.
- Acquisitions or joint ventures we may pursue in the future may be unsuccessful.
- Our business could be adversely affected if we fail to maintain product quality and product performance at an acceptable cost or if we incur significant losses, increased costs or harm to our reputation or brand as a result of product liability claims or product recalls.
- We provide product warranties and, if our product warranty obligations were significantly in excess of our reserves, our business, financial condition and results of operations could be materially and adversely affected.
- We depend on third parties for transportation services, and the lack of availability of and/or increases in the cost of transportation could have a material adverse effect on our business and results of operations.
- Increases in labor costs, potential labor disputes and work stoppages or an inability to hire skilled manufacturing, sales and other personnel could adversely affect our business.
- If we are unable to collect accounts receivable from one or more of our significant distributors, dealers or other customers, our financial condition and operating results could suffer.
- Subjective estimates and judgments used by management in the preparation of our financial statements, including estimates and judgments that may be required by new or changed accounting standards, may impact our financial condition and results of operations.
- The estimates and forecasts of market opportunity and market growth included in this annual report may prove to be inaccurate, and we cannot assure you our business will grow at similar rates, or at all.
- We may be subject to significant compliance costs as well as liabilities under environmental, health and safety laws and regulations, including climate- and climate change-related regulations, which could materially and adversely affect our business, financial condition and operations.
- Our business operations could suffer if we fail to adequately protect our intellectual property rights, and we may experience claims by third parties that we are violating their intellectual property rights.
- Any major disruption or failure of our information technology systems or our website, or our failure to successfully implement new technology effectively, could adversely affect our business and operations.
- We face cybersecurity risks and risks arising from new regulations governing information security and privacy and may incur increasing costs in an effort to mitigate those risks.
- Changes to legislative and regulatory policies related to home ownership may have a material adverse effect on our business, financial condition and results of operations.
- Many of our products must comply with local building codes and ordinances and failure of our products to comply with such codes and ordinances may have an adverse effect on our business.
- Our insurance coverage may be inadequate to protect against the potential hazards incident to our business.
- We are in the early stages of implementing strategic initiatives related to the use of recycled materials. If we fail to implement these initiatives as expected, our business, financial condition and results of operations could be adversely affected.
- Changes in trade policies, including the imposition of tariffs, could negatively impact our business, financial condition and results of operations.
- We may not be able to generate sufficient cash to service all of our indebtedness and may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful.
- We and our subsidiaries may be able to incur substantially more debt. This could further exacerbate the risks to our financial condition described herein.
- The terms of the credit agreements that govern the Senior Secured Credit Facilities may restrict our current and future operations, including our ability to respond to changes or to take certain actions.
- We rely on available borrowings under the Revolving Credit Facility for cash to operate our business, and the availability of credit under the Revolving Credit Facility may be subject to significant fluctuation.
- Uncertainty relating to the LIBOR calculation process and potential phasing out of LIBOR in the future may adversely affect our financing costs.
- Provisions in our certificate of incorporation and bylaws, could make a merger, tender offer or proxy contest difficult, thereby depressing the trading price of our Class A common stock.
- Our certificate of incorporation contains a provision renouncing our interest and expectancy in certain corporate opportunities.
- We are a holding company and rely on dividends, distributions, and other payments, advances and transfers of funds from our subsidiaries to meet our obligations.
- The Sponsors’ interests may conflict with our interests and the interests of other stockholders.
Management Discussion
- Net sales for the three months ended June 30, 2022 increased by $67.5 million, or 20.6%, to $395.0 million from $327.5 million for the three months ended June 30, 2021. The increase was attributable to higher sales growth in both our Residential and Commercial segments. Net sales for the three months ended June 30, 2022 increased for our Residential segment by 17.8% and our Commercial segment by 43.3%, in each case as compared to the prior year period.
- Cost of sales for the three months ended June 30, 2022 increased by $48.0 million, or 21.8%, to $268.6 million from $220.6 million for the three months ended June 30, 2021 primarily due to increased costs on higher sales volumes and higher costs of raw materials.
- Gross profit for the three months ended June 30, 2022 increased by $19.6 million, or 18.3%, to $126.4 million from $106.8 million for the three months ended June 30, 2021. The increase in gross profit was primarily driven by the strong sales results in the Residential and Commercial segments, including positive pricing, partially offset by higher costs. Gross profit as a percent of net sales decreased to 32.0% for the three months ended June 30, 2022 compared to 32.6% for the three months ended June 30, 2021.
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. senior Avg
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New words:
ahead, ASR, Buyer, channel, Chase, climate, column, confidentiality, dealer, desirability, distributor, exacerbated, exacerbating, final, INTEX, Jersey, JFU, Joseph, JPMorgan, JU, labor, macroeconomic, Millwork, moderation, permanent, pose, principle, Qualitative, Quantitative, reacquisition, recalibration, settlement, threat, Umosella
Removed:
announced, Carlo, casualty, decline, disposition, executed, family, February, floor, fluctuating, lending, Monte, paragraph, reducing, repay, scheduled, summarize
Current reports
8-K
The AZEK Company Announces Third Quarter Fiscal 2022 Financial Results
4 Aug 22
8-K
The Azek Company Announces $50 Million Accelerated Share Repurchase Program
11 May 22
8-K
The AZEK Company Announces Second Quarter Fiscal 2022 Financial Results
10 May 22
8-K
The Azek Company Announces Term Loan Refinancing
3 May 22
8-K
Material Modifications to Rights of Security Holders
10 Mar 22
8-K
The AZEK Company Announces First Quarter Fiscal 2022 Financial Results
3 Feb 22
8-K
Acquisition Strengthens AZEK’s Position as the Innovation Leader in About The AZEK® Company
4 Jan 22
8-K
The AZEK Company Announces Record Fourth Quarter and Full-Year Fiscal 2021 Results
18 Nov 21
8-K
Regulation FD Disclosure
20 Sep 21
8-K
The AZEK Company Announces Strong Third Quarter Fiscal Year 2021 Financial Results
12 Aug 21
Registration and prospectus
S-8
Registration of securities for employees
14 Mar 22
424B4
Prospectus supplement with pricing info
27 May 21
DRS
Draft registration statement
10 May 21
424B4
Prospectus supplement with pricing info
22 Jan 21
S-1MEF
Registration of additional securities for an S-1
21 Jan 21
DRS
Draft registration statement
10 Jan 21
424B4
Prospectus supplement with pricing info
11 Sep 20
S-1
IPO registration
8 Sep 20
Other
SD
Conflict minerals disclosure
26 May 22
EFFECT
Notice of effectiveness
27 May 21
CORRESP
Correspondence with SEC
23 May 21
CORRESP
Correspondence with SEC
23 May 21
UPLOAD
Letter from SEC
13 May 21
EFFECT
Notice of effectiveness
22 Jan 21
CORRESP
Correspondence with SEC
18 Jan 21
CORRESP
Correspondence with SEC
18 Jan 21
UPLOAD
Letter from SEC
13 Jan 21
EFFECT
Notice of effectiveness
11 Sep 20
Ownership
SC 13G/A
AZEK / BlackRock ownership change
8 Aug 22
4
AZEK / Peter G Clifford ownership change
3 Aug 22
4
AZEK / Jonathan Skelly ownership change
5 Jul 22
4
AZEK / Morgan Walbridge ownership change
2 Jun 22
4
AZEK / VERNON J NAGEL ownership change
16 May 22
4
AZEK / Fumbi F. Chima ownership change
6 May 22
4
AZEK / Gary E Hendrickson ownership change
6 May 22
4
AZEK / VERNON J NAGEL ownership change
6 May 22
4
AZEK / Sandra Lamartine ownership change
2 May 22
4
AZEK / HOWARD C HECKES ownership change
11 Mar 22
Patents
Utility
Baluster Connectors and Systems Having the Same
4 Aug 22
Baluster connectors and railing systems utilizing baluster connectors.
Utility
Polymer-based Construction Materials
30 Jun 22
Aspects described herein are directed to compositions, systems, and methods of manufacturing a polymer-based construction material comprising polymeric resin and filler such as calcium carbonate (CaCO3).
Utility
Polymer-based construction materials
19 Apr 22
Aspects described herein are directed to compositions, systems, and methods of manufacturing a polymer-based construction material comprising polymeric resin, filler such as calcium carbonate (CaCO3), and titanium oxide (TiO2).
Design
Polymer-based flooring
1 Jun 21
Inventors: Patrick Michael Barnds, Jason Andrew Davoll
Design
Polymer-based flooring
1 Jun 21
Inventors: Patrick Michael Barnds, Jason Andrew Davoll
Transcripts
2022 Q3
Earnings call transcript
6 Aug 22
2022 Q2
Earnings call transcript
10 May 22
2022 Q1
Earnings call transcript
3 Feb 22
2021 Q4
Earnings call transcript
18 Nov 21
2021 Q3
Earnings call transcript
12 Aug 21
2021 Q2
Earnings call transcript
13 May 21
2021 Q1
Earnings call transcript
11 Feb 21
2020 Q4
Earnings call transcript
3 Dec 20
2020 Q3
Earnings call transcript
13 Aug 20
Reddit threads
Daily Discussion Thread - August 3rd, 2022
3 Aug 22
What stocks are you looking at getting into during this bear market downturn?
29 Jun 22
Daily Discussion Thread - May 10th, 2022
10 May 22
Daily Discussion Thread - May 9th, 2022
9 May 22
Hope tmr not another red day
24 Apr 22
What’s a bag that you had to sell?
22 Apr 22
Daily Discussion Thread - February 3rd, 2022
3 Feb 22
Daily Discussion Thread - February 2nd, 2022
2 Feb 22
Daily Discussion Thread - February 1st, 2022
1 Feb 22
Daily Discussion Thread - January 31st, 2022
31 Jan 22