William Blair Forecasts Trex’s FY2024 Earnings (NYSE:TREX)

Trex Company, Inc. (NYSE:TREX) – Analysts at William Blair boosted their FY2024 earnings per share estimates for shares of Trex in a research report issued to clients and investors on Thursday, January 23rd. William Blair analyst R. Merkel now expects that the construction company will earn $2.05 per share for the year, up from their prior estimate of $2.04. The consensus estimate for Trex’s current full-year earnings is $2.05 per share. William Blair also issued estimates for Trex’s Q2 2025 earnings at $0.80 EPS, FY2025 earnings at $2.31 EPS and FY2026 earnings at $2.77 EPS.

A number of other brokerages have also recently commented on TREX. BMO Capital Markets raised their price objective on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Robert W. Baird lifted their price target on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Barclays lowered their price objective on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Jefferies Financial Group reduced their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Finally, StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Trex currently has an average rating of “Hold” and a consensus target price of $79.81.

Trex Price Performance

Shares of TREX opened at $73.77 on Friday. The stock has a 50-day moving average of $72.20 and a 200-day moving average of $70.18. Trex has a one year low of $58.68 and a one year high of $101.91. The company has a market cap of $7.90 billion, a PE ratio of 33.69, a P/E/G ratio of 3.06 and a beta of 1.50.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. During the same period last year, the company posted $0.57 earnings per share. The business’s quarterly revenue was down 23.1% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in shares of Trex by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company’s stock worth $90,752,000 after buying an additional 92,563 shares during the last quarter. Hsbc Holdings PLC raised its position in Trex by 8.3% in the second quarter. Hsbc Holdings PLC now owns 20,773 shares of the construction company’s stock worth $1,537,000 after acquiring an additional 1,595 shares during the period. Bank of Montreal Can boosted its stake in Trex by 147.5% in the second quarter. Bank of Montreal Can now owns 36,671 shares of the construction company’s stock valued at $2,718,000 after acquiring an additional 21,852 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Trex during the 2nd quarter valued at approximately $445,000. Finally, Alpha DNA Investment Management LLC increased its stake in shares of Trex by 9.7% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 5,734 shares of the construction company’s stock worth $425,000 after purchasing an additional 505 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

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.