Trex Company, Inc. (NYSE:TREX – Free Report) – William Blair reduced their Q4 2023 earnings per share estimates for Trex in a note issued to investors on Tuesday, October 3rd. William Blair analyst R. Merkel now anticipates that the construction company will post earnings per share of $0.21 for the quarter, down from their prior estimate of $0.28. The consensus estimate for Trex’s current full-year earnings is $1.79 per share. William Blair also issued estimates for Trex’s Q1 2024 earnings at $0.52 EPS, Q2 2024 earnings at $0.71 EPS, Q3 2024 earnings at $0.57 EPS, Q4 2024 earnings at $0.34 EPS and FY2024 earnings at $2.14 EPS.
TREX has been the topic of a number of other research reports. Benchmark increased their price objective on shares of Trex from $67.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Loop Capital raised their price target on shares of Trex from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. StockNews.com began coverage on shares of Trex in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Truist Financial lifted their target price on shares of Trex from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Finally, B. Riley boosted their price target on shares of Trex from $81.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Trex has a consensus rating of “Hold” and a consensus target price of $76.06.
Trex Price Performance
Shares of TREX stock opened at $59.65 on Wednesday. The company has a market capitalization of $6.48 billion, a P/E ratio of 45.53, a P/E/G ratio of 2.67 and a beta of 1.52. The company’s 50-day simple moving average is $68.60 and its two-hundred day simple moving average is $61.04. Trex has a one year low of $38.68 and a one year high of $76.05.
Trex (NYSE:TREX – Get Free Report) last announced its quarterly earnings data on Monday, July 31st. The construction company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.17. Trex had a net margin of 14.62% and a return on equity of 28.15%. The company had revenue of $356.54 million during the quarter, compared to analyst estimates of $318.89 million. During the same period in the previous year, the business earned $0.79 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis.
Institutional Trading of Trex
Several hedge funds have recently made changes to their positions in TREX. Covestor Ltd lifted its position in shares of Trex by 178.8% during the first quarter. Covestor Ltd now owns 382 shares of the construction company’s stock worth $25,000 after purchasing an additional 245 shares in the last quarter. Signaturefd LLC grew its position in shares of Trex by 175.9% during the first quarter. Signaturefd LLC now owns 549 shares of the construction company’s stock worth $27,000 after acquiring an additional 350 shares during the last quarter. Quarry LP bought a new position in shares of Trex during the first quarter worth about $31,000. Cutler Group LLC CA acquired a new stake in Trex in the second quarter worth about $32,000. Finally, Belpointe Asset Management LLC lifted its holdings in Trex by 120.8% in the first quarter. Belpointe Asset Management LLC now owns 797 shares of the construction company’s stock worth $39,000 after purchasing an additional 436 shares during the period. Institutional investors and hedge funds own 96.42% 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. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, 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.
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