Q2 2024 EPS Estimates for Trex Company, Inc. (NYSE:TREX) Lifted by William Blair

Trex Company, Inc. (NYSE:TREX) – William Blair upped their Q2 2024 earnings estimates for Trex in a research report issued on Tuesday, July 9th. William Blair analyst R. Merkel now forecasts that the construction company will post earnings of $0.78 per share for the quarter, up from their prior forecast of $0.75. The consensus estimate for Trex’s current full-year earnings is $2.26 per share.

TREX has been the subject of a number of other reports. DA Davidson reduced their price objective on shares of Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Robert W. Baird dropped their target price on shares of Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Barclays dropped their target price on shares of Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a research report on Friday. Citigroup dropped their target price on shares of Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Loop Capital lowered their price target on shares of Trex from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $88.76.

Trex Trading Up 4.1 %

Shares of Trex stock opened at $81.56 on Thursday. The firm has a fifty day simple moving average of $82.64 and a 200-day simple moving average of $87.10. Trex has a 1-year low of $53.59 and a 1-year high of $101.91. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 1.64 and a beta of 1.50.

Trex (NYSE:TREX) last posted its earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. The firm had revenue of $373.64 million during the quarter, compared to analysts’ expectations of $367.31 million. Trex had a net margin of 20.60% and a return on equity of 35.33%. The company’s revenue was up 56.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share.

Institutional Trading of Trex

A number of large investors have recently bought and sold shares of TREX. Jacobs Levy Equity Management Inc. bought a new stake in Trex during the 3rd quarter worth approximately $4,053,000. Comerica Bank bought a new stake in Trex during the 3rd quarter worth approximately $12,748,000. Graham Capital Management L.P. bought a new stake in Trex during the 3rd quarter worth approximately $1,248,000. Neo Ivy Capital Management bought a new stake in Trex during the 3rd quarter worth approximately $66,000. Finally, B. Riley Wealth Advisors Inc. increased its stake in Trex by 35.4% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 7,158 shares of the construction company’s stock worth $441,000 after purchasing an additional 1,872 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Jacob T. Rudolph sold 16,440 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total value of $1,494,396.00. Following the completion of the sale, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at approximately $2,340,311.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.71% of the stock is currently owned by company insiders.

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.