Q1 2024 EPS Estimates for Trex Company, Inc. (NYSE:TREX) Boosted by Analyst

Trex Company, Inc. (NYSE:TREX) – Analysts at William Blair upped their Q1 2024 earnings per share (EPS) estimates for Trex in a research report issued on Tuesday, April 16th. William Blair analyst R. Merkel now anticipates that the construction company will post earnings per share of $0.74 for the quarter, up from their prior estimate of $0.67. The consensus estimate for Trex’s current full-year earnings is $2.21 per share. William Blair also issued estimates for Trex’s Q2 2024 earnings at $0.79 EPS, Q3 2024 earnings at $0.56 EPS, Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $2.28 EPS and FY2025 earnings at $2.68 EPS.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, February 26th. The construction company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $195.75 million for the quarter, compared to analyst estimates of $193.40 million. Trex had a net margin of 18.76% and a return on equity of 31.26%. Trex’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $0.23 earnings per share.

A number of other equities analysts have also commented on TREX. Barclays raised their price objective on Trex from $86.00 to $93.00 and gave the stock an “underweight” rating in a research note on Thursday, April 4th. Benchmark raised their target price on shares of Trex from $85.00 to $105.00 and gave the company a “buy” rating in a report on Friday, March 1st. Robert W. Baird boosted their target price on shares of Trex from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. DA Davidson increased their price target on shares of Trex from $80.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Finally, UBS Group boosted their price objective on shares of Trex from $84.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Trex has a consensus rating of “Hold” and a consensus price target of $88.72.

Trex Trading Up 0.2 %

NYSE TREX opened at $87.96 on Wednesday. The company has a market cap of $9.55 billion, a price-to-earnings ratio of 46.54, a PEG ratio of 2.05 and a beta of 1.60. The company has a 50 day moving average of $94.25 and a 200-day moving average of $79.32. Trex has a 1-year low of $51.03 and a 1-year high of $101.91.

Institutional Trading of Trex

A number of large investors have recently bought and sold shares of the business. Mather Group LLC. bought a new position in Trex during the first quarter worth $26,000. V Square Quantitative Management LLC bought a new position in shares of Trex during the 4th quarter worth about $25,000. Sunbelt Securities Inc. increased its position in Trex by 1,744.4% in the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after buying an additional 314 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in Trex in the 4th quarter valued at about $28,000. Finally, Covestor Ltd raised its stake in Trex by 178.8% during the 1st quarter. Covestor Ltd now owns 382 shares of the construction company’s stock worth $25,000 after buying an additional 245 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Company Profile

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.