William Blair Issues Pessimistic Estimate for Trex Earnings

Trex Company, Inc. (NYSE:TREX) – Stock analysts at William Blair cut their Q3 2024 earnings per share (EPS) estimates for shares of Trex in a report released on Tuesday, October 15th. William Blair analyst R. Merkel now expects that the construction company will post earnings per share of $0.30 for the quarter, down from their prior forecast of $0.33. The consensus estimate for Trex’s current full-year earnings is $2.04 per share. William Blair also issued estimates for Trex’s FY2024 earnings at $1.98 EPS, Q1 2025 earnings at $0.64 EPS, Q3 2025 earnings at $0.48 EPS and FY2025 earnings at $2.20 EPS.

Other equities analysts have also issued research reports about the company. BMO Capital Markets reduced their price objective on Trex from $88.00 to $82.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Loop Capital lowered Trex from a “buy” rating to a “hold” rating and reduced their price objective for the company from $95.00 to $75.00 in a research note on Wednesday, August 7th. Truist Financial reduced their price objective on Trex from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. The Goldman Sachs Group reduced their price objective on Trex from $114.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group reduced their price objective on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $81.31.

Trex Price Performance

Shares of TREX stock opened at $64.61 on Thursday. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 2.21 and a beta of 1.50. The business has a fifty day moving average of $64.99 and a 200 day moving average of $77.28. Trex has a 1 year low of $53.59 and a 1 year high of $101.91.

Trex (NYSE:TREX) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS.

Institutional Trading of Trex

Several hedge funds have recently modified their holdings of TREX. V Square Quantitative Management LLC acquired a new stake in shares of Trex in the fourth quarter valued at $25,000. Fisher Asset Management LLC grew its holdings in shares of Trex by 4.8% during the fourth quarter. Fisher Asset Management LLC now owns 98,720 shares of the construction company’s stock worth $8,173,000 after purchasing an additional 4,534 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Trex by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 10,248,650 shares of the construction company’s stock worth $848,486,000 after purchasing an additional 96,324 shares during the last quarter. HighPoint Advisor Group LLC purchased a new position in shares of Trex during the fourth quarter worth about $166,000. Finally, CWM LLC grew its holdings in shares of Trex by 250.3% during the first quarter. CWM LLC now owns 3,114 shares of the construction company’s stock worth $311,000 after purchasing an additional 2,225 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.