Q2 2024 Earnings Forecast for Trex Company, Inc. (NYSE:TREX) Issued By B. Riley

Trex Company, Inc. (NYSE:TREX - Free Report) - Stock analysts at B. Riley upped their Q2 2024 earnings per share estimates for shares of Trex in a research note issued on Tuesday, May 14th. B. Riley analyst A. Rygiel now forecasts that the construction company will post earnings of $0.79 per share for the quarter, up from their previous estimate of $0.72. The consensus estimate for Trex's current full-year earnings is $2.24 per share. B. Riley also issued estimates for Trex's Q3 2024 earnings at $0.49 EPS, Q4 2024 earnings at $0.16 EPS, FY2024 earnings at $2.25 EPS and FY2025 earnings at $2.55 EPS.

Trex (NYSE:TREX - Get Free Report) last issued 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. Trex had a net margin of 20.60% and a return on equity of 35.33%. The business had revenue of $373.64 million during the quarter, compared to the consensus estimate of $367.31 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The firm's quarterly revenue was up 56.5% on a year-over-year basis.

A number of other equities research analysts have also commented on TREX. Robert W. Baird decreased their price objective on Trex from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, May 10th. JPMorgan Chase & Co. boosted their price objective on shares of Trex from $79.00 to $93.00 and gave the company a "neutral" rating in a research report on Friday, March 1st. DA Davidson lifted their target price on shares of Trex from $80.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, February 27th. Truist Financial upped 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. Finally, Barclays lifted their price objective on Trex from $93.00 to $94.00 and gave the company an "underweight" rating in a research report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $89.47.

Trex Stock Up 3.7 %

Shares of Trex stock traded up $3.29 during midday trading on Wednesday, hitting $91.78. The company's stock had a trading volume of 1,475,268 shares, compared to its average volume of 800,339. The firm has a market capitalization of $9.98 billion, a P/E ratio of 39.12, a PEG ratio of 1.94 and a beta of 1.60. Trex has a 1-year low of $51.03 and a 1-year high of $101.91. The stock has a 50-day simple moving average of $93.38 and a 200-day simple moving average of $83.77.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of Trex in the fourth quarter valued at approximately $25,000. Mather Group LLC. acquired a new position in Trex during the 1st quarter valued at $26,000. Loomis Sayles & Co. L P acquired a new position in Trex during the 3rd quarter valued at $27,000. Contravisory Investment Management Inc. bought a new stake in Trex in the 4th quarter valued at $28,000. Finally, Headinvest LLC acquired a new stake in Trex in the 3rd quarter worth $29,000. 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.