Brokers

Brokers Offer Predictions for Trex Company, Inc.’s FY2024 Earnings (NYSE:TREX)


Trex Company, Inc. (NYSE:TREXFree Report) – Analysts at William Blair raised their FY2024 EPS estimates for Trex in a research report issued to clients and investors on Tuesday, July 9th. William Blair analyst R. Merkel now anticipates that the construction company will post earnings of $2.32 per share for the year, up from their previous forecast of $2.30. The consensus estimate for Trex’s current full-year earnings is $2.26 per share.

Other research analysts have also recently issued research reports about the stock. Benchmark reissued a “buy” rating and issued a $105.00 target price on shares of Trex in a report on Tuesday, May 14th. Barclays increased their target price on Trex from $93.00 to $94.00 and gave the stock an “underweight” rating in a report on Friday, May 10th. DA Davidson lowered their price objective on Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Finally, Robert W. Baird reduced their target price on Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $89.06.

Get Our Latest Stock Analysis on Trex

Trex Trading Up 2.8 %

Shares of Trex stock opened at $72.92 on Wednesday. Trex has a 1-year low of $53.59 and a 1-year high of $101.91. The company has a market cap of $7.93 billion, a PE ratio of 31.30, a price-to-earnings-growth ratio of 1.56 and a beta of 1.50. The company has a 50 day moving average of $83.37 and a 200-day moving average of $87.26.

Trex (NYSE:TREXGet Free Report) last announced its earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. The firm had revenue of $373.64 million for the quarter, compared to analyst estimates of $367.31 million. Trex had a net margin of 20.60% and a return on equity of 35.33%. The business’s revenue was up 56.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 EPS.

Insiders Place Their Bets

In other news, SVP Jacob T. Rudolph sold 16,440 shares of Trex stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total value of $1,494,396.00. Following the completion of the transaction, the senior vice president now directly owns 25,746 shares in the company, valued at $2,340,311.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Trex

Several hedge funds have recently bought and sold shares of TREX. Eagle Asset Management Inc. grew its position in shares of Trex by 0.3% during the 4th quarter. Eagle Asset Management Inc. now owns 46,660 shares of the construction company’s stock valued at $3,863,000 after purchasing an additional 119 shares in the last quarter. Covestor Ltd grew its position in Trex by 11.3% during the first quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock worth $121,000 after buying an additional 123 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Trex by 16.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 863 shares of the construction company’s stock worth $71,000 after acquiring an additional 124 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Trex by 8.3% in the 1st quarter. Fifth Third Bancorp now owns 1,683 shares of the construction company’s stock valued at $168,000 after acquiring an additional 129 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Trex by 6.9% during the 4th quarter. First Horizon Advisors Inc. now owns 2,144 shares of the construction company’s stock valued at $178,000 after acquiring an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Company Profile

(Get Free Report)

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.

Further Reading

Earnings History and Estimates for Trex (NYSE:TREX)



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