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

Trex Company, Inc. (NYSE:TREX) – Investment analysts at William Blair boosted their Q2 2024 EPS estimates for shares of Trex in a research note issued on Tuesday, July 9th. William Blair analyst R. Merkel now expects that the construction company will earn $0.78 per share for the quarter, up from their previous 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 research reports. Loop Capital lowered their price objective on shares of Trex from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday. Barclays lowered their price objective on shares of Trex from $94.00 to $81.00 and set an “underweight” rating for the company in a research report on Friday. DA Davidson lowered their price objective on shares of Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Benchmark reaffirmed a “buy” rating and set a $105.00 price objective on shares of Trex in a research report on Tuesday, May 14th. Finally, 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 report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $88.76.

Trex Price Performance

Trex stock opened at $81.56 on Thursday. The firm has a 50 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 cap of $8.87 billion, a price-to-earnings ratio of 35.00, a price-to-earnings-growth ratio of 1.64 and a beta of 1.50.

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

Institutional Trading of Trex

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in Trex by 242.0% during the second quarter. SG Americas Securities LLC now owns 9,453 shares of the construction company’s stock worth $701,000 after buying an additional 6,689 shares in the last quarter. Bennett Selby Investments LP boosted its holdings in Trex by 4.3% during the second quarter. Bennett Selby Investments LP now owns 50,346 shares of the construction company’s stock worth $3,732,000 after buying an additional 2,086 shares in the last quarter. CWM LLC boosted its holdings in Trex by 7.8% during the second quarter. CWM LLC now owns 3,356 shares of the construction company’s stock worth $249,000 after buying an additional 242 shares in the last quarter. Mather Group LLC. boosted its holdings in Trex by 142.3% during the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after buying an additional 370 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Trex by 29,700.0% during the second quarter. Versant Capital Management Inc now owns 894 shares of the construction company’s stock worth $66,000 after buying an additional 891 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Insiders Place Their Bets

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

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.