Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>AZEK Company's fiscal third quarter of 2024 earnings results demonstrated robust performance, propelled by strategic growth initiatives and market-focused optimization.</li><li>A 12% net sales increase year-over-year was reported, with the residential segment, excluding the divested Vycom business, seeing an 18% growth.</li><li>This segment benefited significantly from strong demand across Deck, Rail, and Accessories.</li></ul>

AZEK Company's fiscal third quarter of 2024 earnings results demonstrated robust performance, propelled by strategic growth initiatives and market-focused optimization.A 12% net sales increase year-over-year was reported, with the residential segment, excluding the divested Vycom business, seeing an 18% growth.This segment benefited significantly from strong demand across Deck, Rail, and Accessories.

The AZEK Company Inc.: What Is The Expected Impact Of Cost Reduction and Marginal Improvement Initiatives? - Major Drivers

<ul><li>The AZEK Company reported robust performance for the second quarter of fiscal 2024.</li><li>The company's ability to outperform market expectations stemmed from strong residential segment growth, strategic channel partnerships, and innovative product offerings.</li><li>This performance has led The AZEK Company to raise its fiscal year outlook for both net sales and adjusted EBITDA.</li></ul>

The AZEK Company reported robust performance for the second quarter of fiscal 2024.The company's ability to outperform market expectations stemmed from strong residential segment growth, strategic channel partnerships, and innovative product offerings.This performance has led The AZEK Company to raise its fiscal year outlook for both net sales and adjusted EBITDA.

The AZEK Company Inc.: The 5 Reasons Why We Are Optimistic About Them! - Financial Forecasts

<ul><li>This is our first report on the AZEK Company, leading manufacturer of eco-friendly building products.</li><li>The company reported an 11% net sales increase year-over-year in Q1 2024.</li><li>Excluding the recently divested Vycom business, net sales increased 22% year-over-year, driven by the strong performance of its residential sector.</li></ul>

This is our first report on the AZEK Company, leading manufacturer of eco-friendly building products.The company reported an 11% net sales increase year-over-year in Q1 2024.Excluding the recently divested Vycom business, net sales increased 22% year-over-year, driven by the strong performance of its residential sector.

The AZEK Company: Initiation of Coverage - Is The Robust Demand in Residential Markets Likely To Last? - Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Since 11/21/23 Compass we have discussed weekly that even a minor 2-5% pullback is far from a guarantee, considering "breakaway gaps" and what appeared to be an ongoing "lockout rally"</li>
<li>All we got was a 1% peak to trough decline in the S&amp;P 500, while the Nasdaq 100 (QQQ) pulled back 2.9% (though left the 11/14/23 gap unfilled).</li>
<li>Now, SPX and QQQ are breaking out yet again after a multi-week consolidation period, including SPX breaking above 2-year resistance at 4600-4607. This is what a strong market looks like.</li>
</ul>


Since 11/21/23 Compass we have discussed weekly that even a minor 2-5% pullback is far from a guarantee, considering "breakaway gaps" and what appeared to be an ongoing "lockout rally"
All we got was a 1% peak to trough decline in the S&amp;P 500, while the Nasdaq 100 (QQQ) pulled back 2.9% (though left the 11/14/23 gap unfilled).
Now, SPX and QQQ are breaking out yet again after a multi-week consolidation period, including SPX breaking above 2-year resistance at 4600-4607. This is what a strong market looks like.


Lockout Rally Continues; Breakouts Piling Up; SPX Breakout Above 2-Yr Resistance at 4600-4607

United States

The AZEK Company Inc. manufactures environmentally sustainable building products for residential and commercial markets. The Company's products include decking, railing, trim, porch, moulding, pavers, bathroom, and locker systems, as well as extruded plastic sheets and other non-fabricated products for special applications in industrial markets.

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AZEK / (AZEK US)

The AZEK Company Inc.: What Is The Expected Impact Of Cost Reduction and Marginal Improvement Initiatives? - Major Drivers

AZEK Company's fiscal third quarter of 2024 earnings results demonstrated robust performance, propelled by strategic growth initiatives and...

Baptista Research

The AZEK Company Inc.: The 5 Reasons Why We Are Optimistic About Them! - Financial Forecasts

The AZEK Company reported robust performance for the second quarter of fiscal 2024. The company's ability to outperform market expectations...

Baptista Research

The AZEK Company: Initiation of Coverage - Is The Robust Demand in Residential Markets Likely To Last? - Major Drivers

This is our first report on the AZEK Company, leading manufacturer of eco-friendly building products. The company reported an 11% net sales...

Baptista Research

Lockout Rally Continues; Breakouts Piling Up; SPX Breakout Above 2-Yr Resistance at 4600-4607

Lockout Rally Continues; Breakouts Piling Up; $SPX Breakout Above 2-Yr Resistance at 4600-4607, $COMP Breakout Above 14,400. This is what a strong...

Vermilion Research

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