B. Riley Has Positive Estimate for Trex FY2024 Earnings

Trex Company, Inc. (NYSE:TREX) – Analysts at B. Riley raised their FY2024 EPS estimates for Trex in a research note issued on Tuesday, October 29th. B. Riley analyst A. Rygiel now expects that the construction company will post earnings per share of $2.08 for the year, up from their prior estimate of $2.05. B. Riley has a “Buy” rating and a $97.00 price objective on the stock. The consensus estimate for Trex’s current full-year earnings is $2.04 per share.

Trex (NYSE:TREX) last issued its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. Trex had a return on equity of 33.53% and a net margin of 21.07%. The company had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. During the same period last year, the business posted $0.57 EPS. The firm’s revenue for the quarter was down 23.1% compared to the same quarter last year.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group cut their target price on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Truist Financial dropped their price objective on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. The Goldman Sachs Group decreased their target price on shares of Trex from $114.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. dropped their price target on shares of Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, DA Davidson boosted their price objective on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.94.

Trex Stock Performance

Shares of NYSE:TREX opened at $70.85 on Thursday. The firm has a market cap of $7.70 billion, a P/E ratio of 32.29, a PEG ratio of 2.45 and a beta of 1.50. Trex has a 52-week low of $55.67 and a 52-week high of $101.91. The business’s 50 day simple moving average is $65.46 and its two-hundred day simple moving average is $75.54.

Hedge Funds Weigh In On Trex

A number of hedge funds and other institutional investors have recently made changes to their positions in TREX. Hantz Financial Services Inc. bought a new position in Trex during the second quarter valued at $31,000. Fidelis Capital Partners LLC bought a new position in shares of Trex during the 1st quarter worth $59,000. Ashton Thomas Private Wealth LLC purchased a new stake in Trex in the 2nd quarter worth about $44,000. Quarry LP raised its stake in Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after acquiring an additional 513 shares during the period. Finally, Mather Group LLC. lifted its holdings in Trex by 142.3% during the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after purchasing an additional 370 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.