Q3 2024 EPS Estimates for Trex Company, Inc. Decreased by Analyst (NYSE:TREX)

Trex Company, Inc. (NYSE:TREX) – Investment analysts at B. Riley decreased their Q3 2024 earnings per share (EPS) estimates for Trex in a research note issued to investors on Wednesday, August 7th. B. Riley analyst A. Rygiel now forecasts that the construction company will post earnings of $0.32 per share for the quarter, down from their previous forecast of $0.49. B. Riley currently has a “Buy” rating and a $97.00 price objective on the stock. The consensus estimate for Trex’s current full-year earnings is $2.26 per share. B. Riley also issued estimates for Trex’s FY2024 earnings at $2.05 EPS and FY2025 earnings at $2.25 EPS.

Trex (NYSE:TREX) last announced its earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The business had revenue of $376.47 million during the quarter, compared to analyst estimates of $387.87 million. Trex had a return on equity of 35.32% and a net margin of 21.07%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share.

A number of other analysts have also issued reports on TREX. UBS Group lowered their price target on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday. Stifel Nicolaus lowered their price target on Trex from $110.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday. Benchmark lowered their price target on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a report on Thursday. Citigroup lowered their target price on Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Finally, DA Davidson lowered their target price on Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $82.38.

Trex Stock Performance

Shares of NYSE TREX opened at $60.70 on Friday. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.83 and a beta of 1.50. The stock has a 50 day moving average price of $78.29 and a 200 day moving average price of $86.68. Trex has a 52-week low of $53.59 and a 52-week high of $101.91.

Insider Transactions at Trex

In other news, SVP Jacob T. Rudolph sold 16,440 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the transaction, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at $2,340,311.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Trex

Several hedge funds have recently made changes to their positions in TREX. Norges Bank acquired a new stake in Trex during the 4th quarter worth about $113,613,000. TD Asset Management Inc boosted its stake in shares of Trex by 516.8% during the 4th quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock worth $132,545,000 after acquiring an additional 1,341,419 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in shares of Trex by 250.4% during the 4th quarter. Epoch Investment Partners Inc. now owns 938,544 shares of the construction company’s stock worth $77,702,000 after acquiring an additional 670,665 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Trex by 19.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,102,402 shares of the construction company’s stock worth $339,638,000 after acquiring an additional 660,536 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Trex during the 2nd quarter worth about $19,475,000. 95.96% of the stock is 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.