B. Riley Issues Pessimistic Forecast for Trex Earnings

Trex Company, Inc. (NYSE:TREX) – B. Riley lowered their Q4 2024 earnings per share estimates for Trex in a research report issued on Tuesday, October 29th. B. Riley analyst A. Rygiel now forecasts that the construction company will post earnings of $0.08 per share for the quarter, down from their previous estimate of $0.11. B. Riley has a “Buy” rating and a $97.00 price objective on the stock. The consensus estimate for Trex’s current full-year earnings is $2.04 per share.

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

A number of other research firms have also recently commented on TREX. Stifel Nicolaus decreased their price target on Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. BMO Capital Markets lifted their target price on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research note on Tuesday. Loop Capital cut Trex from a “buy” rating to a “hold” rating and lowered their price target for the stock from $95.00 to $75.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Finally, Truist Financial lowered their target price on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.94.

Trex Price Performance

Shares of TREX stock opened at $70.55 on Wednesday. Trex has a one year low of $55.67 and a one year high of $101.91. The company’s fifty day moving average price is $65.36 and its 200-day moving average price is $75.57. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 2.45 and a beta of 1.50.

Institutional Investors Weigh In On Trex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Impax Asset Management Group plc boosted its holdings in shares of Trex by 44.2% in the 3rd quarter. Impax Asset Management Group plc now owns 822,361 shares of the construction company’s stock worth $54,753,000 after purchasing an additional 252,262 shares during the period. Van ECK Associates Corp lifted its position in Trex by 40.0% in the third quarter. Van ECK Associates Corp now owns 81,726 shares of the construction company’s stock worth $5,137,000 after buying an additional 23,351 shares during the last quarter. Pembroke Management LTD boosted its stake in Trex by 19.6% during the third quarter. Pembroke Management LTD now owns 371,806 shares of the construction company’s stock worth $24,755,000 after buying an additional 60,927 shares during the period. Argonautica Private Wealth Management Inc. bought a new position in Trex during the third quarter valued at $429,000. Finally, Stephens Inc. AR increased its position in Trex by 7.1% during the third quarter. Stephens Inc. AR now owns 5,693 shares of the construction company’s stock valued at $379,000 after acquiring an additional 375 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other 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.