B. Riley Has Bullish Outlook for Trex FY2024 Earnings

Trex Company, Inc. (NYSE:TREX) – Analysts at B. Riley boosted their FY2024 earnings per share (EPS) estimates for shares of Trex in a research note issued to investors on Tuesday, October 29th. B. Riley analyst A. Rygiel now forecasts that the construction company will post earnings per share of $2.08 for the year, up from their previous forecast of $2.05. B. Riley currently has a “Buy” rating and a $97.00 price target on the stock. The consensus estimate for Trex’s current full-year earnings is $2.04 per share.

Other research analysts also recently issued reports about the company. Jefferies Financial Group reduced their target price on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Truist Financial reduced their price objective on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Barclays lowered their target price on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research note on Tuesday. UBS Group reduced their price target on shares of Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $79.94.

Trex Stock Down 0.1 %

NYSE:TREX opened at $70.55 on Thursday. The firm has a market cap of $7.67 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 2.45 and a beta of 1.50. The company’s 50-day moving average price is $65.36 and its two-hundred day moving average price is $75.57. Trex has a 12 month low of $55.67 and a 12 month high of $101.91.

Trex (NYSE:TREX) last issued its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. The company had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The firm’s revenue for the quarter was down 23.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 EPS.

Institutional Trading of Trex

Large investors have recently bought and sold shares of the business. Hantz Financial Services Inc. bought a new stake in shares of Trex during the second quarter worth $31,000. UMB Bank n.a. grew its holdings in shares of Trex by 150.8% during the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after buying an additional 392 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Trex in the 2nd quarter valued at approximately $44,000. Quarry LP lifted its stake in Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after acquiring an additional 513 shares in the last quarter. Finally, Mather Group LLC. boosted its position in Trex by 142.3% during the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after acquiring an additional 370 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

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.