Research Analysts Set Expectations for Trex FY2024 Earnings

Trex Company, Inc. (NYSE:TREX) – Equities research analysts at William Blair raised their FY2024 earnings per share (EPS) estimates for Trex in a research note issued to investors on Tuesday, October 29th. William Blair analyst R. Merkel now expects that the construction company will post earnings of $2.04 per share for the year, up from their previous forecast of $1.98. The consensus estimate for Trex’s current full-year earnings is $2.05 per share. William Blair also issued estimates for Trex’s FY2025 earnings at $2.22 EPS.

A number of other equities analysts have also recently issued reports on the company. Stephens cut Trex from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $115.00 to $72.00 in a 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 note on Wednesday, July 10th. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday. Benchmark reduced their price target on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Loop Capital cut shares of Trex from a “buy” rating to a “hold” rating and reduced their price target for the company from $95.00 to $75.00 in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $79.94.

Trex Stock Down 0.1 %

Trex stock opened at $70.77 on Thursday. Trex has a 52 week low of $58.68 and a 52 week high of $101.91. The business has a 50-day simple moving average of $65.59 and a 200 day simple moving average of $75.51. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 3.21 and a beta of 1.50.

Trex (NYSE:TREX) last announced its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 28.89% and a net margin of 20.23%. Trex’s quarterly revenue was down 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 earnings per share.

Institutional Investors Weigh In On Trex

A number of hedge funds have recently modified their holdings of the company. Atria Investments Inc lifted its position in shares of Trex by 10.5% during the third quarter. Atria Investments Inc now owns 7,210 shares of the construction company’s stock worth $480,000 after purchasing an additional 683 shares in the last quarter. Impax Asset Management Group plc raised its holdings in Trex by 44.2% during the third 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 in the last quarter. Van ECK Associates Corp raised its holdings in Trex by 40.0% during the third quarter. Van ECK Associates Corp now owns 81,726 shares of the construction company’s stock worth $5,137,000 after purchasing an additional 23,351 shares in the last quarter. Pembroke Management LTD raised its holdings 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 purchasing an additional 60,927 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. acquired a new stake in Trex during the third quarter worth approximately $429,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

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.