Equities Analysts Offer Predictions for Trex FY2024 Earnings

Trex Company, Inc. (NYSE:TREX) – Investment analysts at William Blair lifted their FY2024 earnings per share (EPS) estimates for shares of Trex in a report released on Thursday, January 23rd. William Blair analyst R. Merkel now anticipates that the construction company will post earnings per share of $2.05 for the year, up from their previous estimate of $2.04. The consensus estimate for Trex’s current full-year earnings is $2.05 per share. William Blair also issued estimates for Trex’s Q2 2025 earnings at $0.80 EPS, FY2025 earnings at $2.31 EPS and FY2026 earnings at $2.77 EPS.

Trex (NYSE:TREX) last issued 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. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. The company’s revenue was down 23.1% compared to the same quarter last year.

A number of other brokerages also recently issued reports on TREX. BMO Capital Markets raised their price target on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. DA Davidson raised their target price on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Jefferies Financial Group reduced their price target on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Finally, Citigroup reduced their target price on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $79.81.

Trex Price Performance

Shares of NYSE TREX opened at $73.77 on Friday. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 33.69, a PEG ratio of 3.06 and a beta of 1.50. The firm’s 50 day simple moving average is $72.20 and its 200-day simple moving average is $70.19. Trex has a 12 month low of $58.68 and a 12 month high of $101.91.

Hedge Funds Weigh In On Trex

Institutional investors and hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP lifted its stake in Trex by 33.2% in the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after purchasing an additional 1,015,516 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Trex by 6,093.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock valued at $56,834,000 after purchasing an additional 839,837 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Trex by 100.0% during the third quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock worth $68,075,000 after buying an additional 511,163 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Trex by 462.4% during the third quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock worth $35,231,000 after buying an additional 435,055 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Trex by 97.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock valued at $53,098,000 after buying an additional 393,850 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.