Q1 2024 EPS Estimates for Trex Company, Inc. (NYSE:TREX) Boosted by Analyst

Trex Company, Inc. (NYSE:TREX) – Equities researchers at William Blair lifted their Q1 2024 EPS estimates for Trex in a research report issued on Tuesday, April 16th. William Blair analyst R. Merkel now expects that the construction company will post earnings of $0.74 per share for the quarter, up from their prior forecast of $0.67. The consensus estimate for Trex’s current full-year earnings is $2.21 per share. William Blair also issued estimates for Trex’s Q2 2024 earnings at $0.79 EPS, Q3 2024 earnings at $0.56 EPS, Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $2.28 EPS and FY2025 earnings at $2.68 EPS.

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

TREX has been the subject of several other reports. Robert W. Baird boosted their target price on Trex from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Stifel Nicolaus upped 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, February 27th. The Goldman Sachs Group lifted their price target on shares of Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. UBS Group upped their price objective on shares of Trex from $84.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Finally, Truist Financial raised their price objective on Trex from $70.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Two 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 company. According to data from MarketBeat, Trex has an average rating of “Hold” and a consensus target price of $88.72.

Trex Stock Down 1.4 %

Shares of Trex stock opened at $87.76 on Wednesday. The business has a fifty day simple moving average of $94.30 and a 200 day simple moving average of $79.26. The stock has a market cap of $9.53 billion, a PE ratio of 46.43, a price-to-earnings-growth ratio of 2.08 and a beta of 1.60. Trex has a 12 month low of $51.03 and a 12 month high of $101.91.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TREX. Capital Insight Partners LLC increased its stake in Trex by 2.5% in the 1st quarter. Capital Insight Partners LLC now owns 39,089 shares of the construction company’s stock valued at $3,899,000 after buying an additional 970 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Trex by 3.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,512 shares of the construction company’s stock valued at $1,647,000 after acquiring an additional 573 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of Trex by 1,744.4% in the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after acquiring an additional 314 shares during the last quarter. RMR Wealth Builders raised its holdings in Trex by 9.5% during the first quarter. RMR Wealth Builders now owns 5,764 shares of the construction company’s stock worth $575,000 after acquiring an additional 498 shares in the last quarter. Finally, Red Spruce Capital LLC boosted its position in Trex by 2.5% during the first quarter. Red Spruce Capital LLC now owns 15,217 shares of the construction company’s stock valued at $1,518,000 after purchasing an additional 377 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

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.