Trex Company, Inc. Forecasted to Earn Q1 2024 Earnings of $0.73 Per Share (NYSE:TREX)

Trex Company, Inc. (NYSE:TREXFree Report) – Research analysts at DA Davidson issued their Q1 2024 earnings estimates for shares of Trex in a research note issued on Tuesday, February 27th. DA Davidson analyst K. Yinger forecasts that the construction company will post earnings per share of $0.73 for the quarter. DA Davidson has a “Neutral” rating and a $87.00 price target on the stock. The consensus estimate for Trex’s current full-year earnings is $2.23 per share. DA Davidson also issued estimates for Trex’s FY2024 earnings at $2.19 EPS and FY2025 earnings at $2.46 EPS.

Trex (NYSE:TREXGet Free Report) last released its quarterly earnings data on Monday, February 26th. The construction company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Trex had a net margin of 18.76% and a return on equity of 31.26%. The firm had revenue of $195.75 million for the quarter, compared to analysts’ expectations of $193.40 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year.

A number of other research firms have also recently issued reports on TREX. The Goldman Sachs Group boosted their price objective on shares of Trex from $89.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial lifted their target price on shares of Trex from $70.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus lifted their target price on shares of Trex from $90.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group lifted their target price on shares of Trex from $84.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Wolfe Research initiated coverage on shares of Trex in a research note on Tuesday, December 12th. They set a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $85.00.

Get Our Latest Analysis on Trex

Trex Trading Down 0.8 %

TREX stock opened at $91.74 on Wednesday. The firm’s 50-day moving average price is $84.97 and its two-hundred day moving average price is $72.53. Trex has a 12-month low of $44.90 and a 12-month high of $101.91. The stock has a market capitalization of $9.97 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 2.67 and a beta of 1.58.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Cim LLC purchased a new position in shares of Trex during the fourth quarter valued at approximately $1,258,000. V Square Quantitative Management LLC purchased a new position in shares of Trex during the fourth quarter valued at approximately $25,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Trex by 4.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 294,779 shares of the construction company’s stock valued at $24,406,000 after purchasing an additional 12,990 shares during the last quarter. Spouting Rock Asset Management LLC raised its holdings in shares of Trex by 12.3% during the fourth quarter. Spouting Rock Asset Management LLC now owns 5,351 shares of the construction company’s stock valued at $443,000 after purchasing an additional 585 shares during the last quarter. Finally, Oarsman Capital Inc. purchased a new position in shares of Trex during the fourth quarter valued at approximately $232,000. 96.42% of the stock is owned by hedge funds and other institutional investors.

Trex Company Profile

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Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, 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.

Further Reading

Earnings History and Estimates for Trex (NYSE:TREX)

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