Wall Street analysts predict that Trex Company, Inc. (NYSE:TREX) will announce $303.40 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Trex's earnings. The highest sales estimate is $307.70 million and the lowest is $300.70 million. Trex reported sales of $220.65 million in the same quarter last year, which would suggest a positive year over year growth rate of 37.5%. The firm is expected to announce its next earnings report after the market closes on Monday, August 2nd.
On average, analysts expect that Trex will report full-year sales of $1.13 billion for the current fiscal year, with estimates ranging from $1.06 billion to $1.18 billion. For the next year, analysts forecast that the business will post sales of $1.27 billion, with estimates ranging from $1.18 billion to $1.35 billion. Zacks Investment Research's sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Trex.
Trex (NYSE:TREX) last issued its quarterly earnings data on Sunday, May 9th. The construction company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. Trex had a net margin of 19.63% and a return on equity of 33.59%. The business had revenue of $245.52 million for the quarter, compared to analyst estimates of $239.31 million. During the same period last year, the business posted $0.73 earnings per share. The firm's quarterly revenue was up 22.5% on a year-over-year basis.
A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Trex in a research report on Wednesday, May 5th. They issued a "neutral" rating and a $109.00 target price for the company. Loop Capital assumed coverage on shares of Trex in a research report on Tuesday, April 13th. They issued a "buy" rating and a $110.00 target price for the company. Robert W. Baird raised their target price on shares of Trex from $110.00 to $120.00 and gave the company an "outperform" rating in a research report on Tuesday, May 11th. Truist raised shares of Trex from a "hold" rating to a "buy" rating and raised their target price for the company from $100.00 to $120.00 in a research report on Monday, April 12th. Finally, BMO Capital Markets raised their target price on shares of Trex from $92.00 to $98.00 and gave the company a "market perform" rating in a research report on Tuesday, May 11th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Trex has a consensus rating of "Hold" and a consensus target price of $102.73.
Trex stock opened at $99.96 on Thursday. The company has a market capitalization of $11.53 billion, a P/E ratio of 63.87 and a beta of 1.48. Trex has a 1-year low of $63.32 and a 1-year high of $111.04. The company has a fifty day simple moving average of $99.07.
In other Trex news, CEO Bryan Horix Fairbanks sold 4,902 shares of Trex stock in a transaction dated Wednesday, May 12th. The shares were sold at an average price of $101.41, for a total value of $497,111.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay M. Gratz sold 2,140 shares of Trex stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $100.92, for a total transaction of $215,968.80. Following the completion of the sale, the director now owns 22,630 shares of the company's stock, valued at approximately $2,283,819.60. The disclosure for this sale can be found here. Insiders sold a total of 23,312 shares of company stock valued at $2,386,450 in the last quarter. Corporate insiders own 0.69% of the company's stock.
Several large investors have recently modified their holdings of TREX. Alliancebernstein L.P. raised its position in shares of Trex by 32.5% in the 1st quarter. Alliancebernstein L.P. now owns 5,420,716 shares of the construction company's stock valued at $496,212,000 after buying an additional 1,328,979 shares in the last quarter. Norges Bank acquired a new position in shares of Trex in the 4th quarter valued at approximately $104,656,000. Price T Rowe Associates Inc. MD raised its position in shares of Trex by 32.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,071,720 shares of the construction company's stock valued at $257,164,000 after buying an additional 756,914 shares in the last quarter. Standard Life Aberdeen plc raised its position in shares of Trex by 279.4% in the 1st quarter. Standard Life Aberdeen plc now owns 721,613 shares of the construction company's stock valued at $66,056,000 after buying an additional 531,397 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Trex by 3.2% in the 1st quarter. BlackRock Inc. now owns 12,583,549 shares of the construction company's stock valued at $1,151,900,000 after buying an additional 385,729 shares in the last quarter. Institutional investors own 93.42% of the company's stock.
Trex Company, Inc manufactures and distributes wood and plastic composite products, and related accessories primarily for residential decking, and railing applications in the United States. It offers Trex Transcend, Trex Select, and Trex Enhance protective shells for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening systems; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.
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