Q1 2024 EPS Estimates for Trex Company, Inc. Increased by William Blair (NYSE:TREX)

Trex Company, Inc. (NYSE:TREX) – Research analysts at William Blair lifted their Q1 2024 earnings estimates for Trex in a note issued to investors on Tuesday, April 16th. William Blair analyst R. Merkel now expects that the construction company will post earnings per share of $0.74 for the quarter, up from their previous estimate 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 issued its quarterly earnings data on Monday, February 26th. The construction company reported $0.20 earnings per share for the quarter, beating 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 return on equity of 31.26% and a net margin of 18.76%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share.

Several other research analysts have also commented on the company. Stifel Nicolaus lifted their price target on Trex from $90.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. DA Davidson lifted their target price on Trex from $80.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. UBS Group increased their price target on Trex from $84.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Barclays lifted their price objective on shares of Trex from $86.00 to $93.00 and gave the stock an “underweight” rating in a research note on Thursday, April 4th. Finally, 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Trex currently has an average rating of “Hold” and a consensus price target of $88.72.

Trex Price Performance

NYSE:TREX opened at $87.96 on Wednesday. The company has a market cap of $9.55 billion, a price-to-earnings ratio of 46.54, a PEG ratio of 2.05 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’s 50 day simple moving average is $94.25 and its two-hundred day simple moving average is $79.32.

Institutional Investors Weigh In On Trex

Large investors have recently made changes to their positions in the stock. State of Michigan Retirement System lifted its position in Trex by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 26,622 shares of the construction company’s stock worth $2,656,000 after acquiring an additional 600 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Trex by 18.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 124,389 shares of the construction company’s stock worth $12,408,000 after purchasing an additional 19,286 shares during the last quarter. Capital Insight Partners LLC lifted its position in Trex by 2.5% during the first quarter. Capital Insight Partners LLC now owns 39,089 shares of the construction company’s stock valued at $3,899,000 after purchasing an additional 970 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Trex by 3.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,512 shares of the construction company’s stock valued at $1,647,000 after purchasing an additional 573 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its position in Trex by 1,744.4% during the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after purchasing an additional 314 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.