Trex Company, Inc. (NYSE:TREX – Free Report) – Investment analysts at B. Riley increased their FY2023 earnings per share (EPS) estimates for Trex in a research note issued on Tuesday, October 31st. B. Riley analyst A. Rygiel now anticipates that the construction company will post earnings of $1.86 per share for the year, up from their prior forecast of $1.76. B. Riley currently has a “Buy” rating and a $87.00 target price on the stock. The consensus estimate for Trex’s current full-year earnings is $1.79 per share. B. Riley also issued estimates for Trex’s FY2024 earnings at $2.17 EPS.
A number of other equities research analysts have also recently commented on TREX. TheStreet raised Trex from a “c+” rating to a “b-” rating in a research note on Monday, July 31st. Bank of America lifted their price objective on Trex from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Benchmark reissued a “buy” rating and issued a $85.00 target price on shares of Trex in a research note on Tuesday. Jefferies Financial Group decreased their target price on Trex from $79.00 to $66.00 in a research note on Thursday, October 12th. Finally, Truist Financial decreased their target price on Trex from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, October 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Trex has a consensus rating of “Hold” and an average target price of $74.76.
Trex Stock Up 3.9 %
Shares of Trex stock opened at $58.41 on Wednesday. Trex has a 12 month low of $38.68 and a 12 month high of $76.05. The business has a fifty day simple moving average of $62.56 and a 200 day simple moving average of $62.23. The stock has a market cap of $6.34 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 2.60 and a beta of 1.52.
Trex (NYSE:TREX – Get Free Report) last announced its quarterly earnings data on Monday, October 30th. The construction company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. Trex had a return on equity of 36.32% and a net margin of 17.73%. The business had revenue of $303.84 million during the quarter, compared to analysts’ expectations of $290.12 million. During the same period in the previous year, the firm earned $0.14 earnings per share. The firm’s quarterly revenue was up 61.2% compared to the same quarter last year.
Institutional Trading of Trex
Institutional investors and hedge funds have recently bought and sold shares of the stock. Covestor Ltd raised its holdings in Trex by 178.8% during the first quarter. Covestor Ltd now owns 382 shares of the construction company’s stock worth $25,000 after acquiring an additional 245 shares in the last quarter. Cutler Group LLC CA bought a new stake in Trex during the second quarter worth about $32,000. Signaturefd LLC raised its holdings in Trex by 175.9% during the first quarter. Signaturefd LLC now owns 549 shares of the construction company’s stock worth $27,000 after acquiring an additional 350 shares in the last quarter. Quarry LP bought a new stake in Trex during the first quarter worth about $31,000. Finally, Belpointe Asset Management LLC raised its holdings in Trex by 120.8% during the first quarter. Belpointe Asset Management LLC now owns 797 shares of the construction company’s stock worth $39,000 after acquiring an additional 436 shares in the last quarter. Institutional investors own 96.42% of the company’s stock.
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.
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