Equities Analysts Offer Predictions for Trex FY2024 Earnings

Trex Company, Inc. (NYSE:TREX) – William Blair increased their FY2024 earnings estimates for Trex in a report issued on Tuesday, October 29th. William Blair analyst R. Merkel now forecasts that the construction company will post earnings of $2.04 per share for the year, up from their previous estimate of $1.98. The consensus estimate for Trex’s current full-year earnings is $2.04 per share. William Blair also issued estimates for Trex’s FY2025 earnings at $2.22 EPS.

TREX has been the subject of a number of other reports. UBS Group lowered their target price on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. The Goldman Sachs Group lowered their price objective on shares of Trex from $114.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Robert W. Baird boosted their target price on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday. BMO Capital Markets increased their price target on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Trex has an average rating of “Hold” and an average price target of $79.94.

Trex Trading Down 0.1 %

Shares of Trex stock opened at $70.55 on Thursday. Trex has a 12 month low of $55.67 and a 12 month high of $101.91. The stock has a 50 day moving average of $65.36 and a 200 day moving average of $75.57. The firm has a market cap of $7.67 billion, a PE ratio of 32.21, a PEG ratio of 2.45 and a beta of 1.50.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. Trex had a net margin of 21.07% and a return on equity of 33.53%. The business had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The business’s revenue was down 23.1% on a year-over-year basis.

Institutional Trading of Trex

Institutional investors and hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new position in Trex during the 2nd quarter valued at about $31,000. Fidelis Capital Partners LLC purchased a new position in Trex during the first quarter valued at approximately $59,000. Ashton Thomas Private Wealth LLC bought a new position in Trex in the second quarter worth approximately $44,000. Quarry LP lifted its holdings in Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after buying an additional 513 shares during the period. Finally, Mather Group LLC. boosted its position in Trex by 142.3% during the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after acquiring an additional 370 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

About Trex

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.