Research Analysts Issue Forecasts for Trex Company, Inc.’s FY2024 Earnings (NYSE:TREX)

Trex Company, Inc. (NYSE:TREX) – Equities researchers at DA Davidson dropped their FY2024 earnings estimates for shares of Trex in a note issued to investors on Wednesday, August 7th. DA Davidson analyst K. Yinger now expects that the construction company will post earnings per share of $2.02 for the year, down from their previous forecast of $2.21. DA Davidson has a “Neutral” rating and a $80.00 price target on the stock. The consensus estimate for Trex’s current full-year earnings is $2.26 per share.

Other analysts have also issued research reports about the stock. Citigroup cut their price objective on shares of Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Stifel Nicolaus decreased their price objective on shares of Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday. Benchmark decreased their price target on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday. Stephens cut shares of 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 research report on Wednesday. Finally, BMO Capital Markets dropped their target price on shares of Trex from $88.00 to $82.00 and set a “market perform” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Trex currently has an average rating of “Hold” and a consensus target price of $82.38.

Trex Stock Performance

Shares of TREX opened at $60.70 on Friday. The firm’s 50 day moving average price is $78.29 and its two-hundred day moving average price is $86.68. The firm has a market cap of $6.60 billion, a P/E ratio of 26.05, a PEG ratio of 1.83 and a beta of 1.50. Trex has a twelve month low of $53.59 and a twelve month high of $101.91.

Trex (NYSE:TREX) last announced its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Trex had a net margin of 21.07% and a return on equity of 35.32%. The firm had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis.

Insider Buying and Selling at Trex

In other news, SVP Jacob T. Rudolph sold 16,440 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the completion of the sale, the senior vice president now owns 25,746 shares of the company’s stock, valued at approximately $2,340,311.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Trex

Large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new position in Trex during the 2nd quarter valued at $721,000. Edgestream Partners L.P. purchased a new position in Trex during the 2nd quarter valued at about $2,521,000. Renaissance Technologies LLC purchased a new position in Trex during the 2nd quarter valued at about $19,475,000. Quantbot Technologies LP boosted its position in shares of Trex by 130.5% during the 2nd quarter. Quantbot Technologies LP now owns 46,721 shares of the construction company’s stock valued at $3,463,000 after acquiring an additional 26,451 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Trex by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company’s stock valued at $90,752,000 after acquiring an additional 92,563 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

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.