Q2 2024 Earnings Estimate for Trex Company, Inc. Issued By DA Davidson (NYSE:TREX)

Trex Company, Inc. (NYSE:TREX - Free Report) - Stock analysts at DA Davidson issued their Q2 2024 EPS estimates for Trex in a research note issued to investors on Monday, May 13th. DA Davidson analyst K. Yinger forecasts that the construction company will post earnings of $0.78 per share for the quarter. DA Davidson has a "Neutral" rating and a $87.00 price objective on the stock. The consensus estimate for Trex's current full-year earnings is $2.24 per share. DA Davidson also issued estimates for Trex's FY2024 earnings at $2.21 EPS and FY2025 earnings at $2.51 EPS.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The construction company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.72 by $0.10. The business had revenue of $373.64 million for the quarter, compared to analyst estimates of $367.31 million. Trex had a return on equity of 35.33% and a net margin of 20.60%. The company's quarterly revenue was up 56.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS.

A number of other equities analysts have also recently weighed in on TREX. UBS Group increased their price objective on shares of Trex from $84.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 27th. The Goldman Sachs Group lifted their price objective on Trex from $89.00 to $108.00 and gave the company a "buy" rating in a research note on Wednesday, February 28th. Robert W. Baird cut their price objective on Trex from $110.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday. Benchmark restated a "buy" rating and set a $105.00 target price on shares of Trex in a report on Tuesday. Finally, Truist Financial boosted their price target on shares of Trex from $70.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Trex has a consensus rating of "Hold" and a consensus target price of $89.47.

Trex Trading Up 1.0 %

NYSE TREX traded up $0.90 during trading hours on Tuesday, reaching $88.49. The company had a trading volume of 1,209,282 shares, compared to its average volume of 793,082. The stock has a market capitalization of $9.62 billion, a P/E ratio of 37.98, a price-to-earnings-growth ratio of 1.94 and a beta of 1.60. The stock has a 50-day moving average of $93.38 and a 200 day moving average of $83.77. Trex has a 1-year low of $51.03 and a 1-year high of $101.91.

Institutional Investors Weigh In On Trex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Redwood Investments LLC purchased a new position in shares of Trex during the fourth quarter worth about $2,271,000. WCM Investment Management LLC boosted its holdings in shares of Trex by 9.4% in the fourth quarter. WCM Investment Management LLC now owns 251,159 shares of the construction company's stock valued at $21,027,000 after acquiring an additional 21,486 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Trex during the third quarter worth approximately $4,053,000. Motley Fool Wealth Management LLC purchased a new position in shares of Trex during the fourth quarter worth approximately $8,590,000. Finally, Quantbot Technologies LP raised its position in Trex by 81.8% in the 3rd quarter. Quantbot Technologies LP now owns 63,876 shares of the construction company's stock valued at $3,937,000 after purchasing an additional 28,746 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

About Trex

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.