Azek (AZEK) has seen a successful public offering as investors see the potential for this outdoor brand, with homeowners spending more on their outdoors in a sustainable and ecologically friendly way. While leverage is under control following the public offering, the earnings multiples are very high based on the current performance, in part because some margin work remains to be done.
Reality is that the company requires real sales growth and margin progress to even come close to justifying the valuation. While I like the positioning of the company, this is not a