Wall Street analysts expect Trex Company, Inc. (NYSE:TREX – Get Rating) to report sales of $327.04 million for the current quarter, Zacks reports. Six analysts have released earnings estimates for Trex, with the highest sales estimate at $330.00 million and the lowest estimate at $325.20 million. Trex reported sales of $245.52 million in the same quarter last year, indicating a positive year-over-year growth rate of 33.2%. The company is expected to release its next results on Monday, January 1.
On average, analysts expect Trex to report annual sales of $1.39 billion for the current fiscal year, with estimates ranging from $1.37 billion to $1.40 billion. For the next fiscal year, analysts expect the company to post sales of $1.55 billion, with estimates ranging from $1.49 billion to $1.59 billion. Zacks Investment Research’s sell calculations are an average based on a survey of sell-side analysts who provide coverage for Trex.
Trex (NYSE:TREX – Get Rating) last reported quarterly results on Monday, February 28. The construction company reported EPS of $0.55 for the quarter, beating analyst consensus estimates of $0.53 by $0.02. Trex had a net margin of 17.41% and a return on equity of 36.80%. The company posted revenue of $303.96 million in the quarter, versus analyst estimates of $302.64 million. In the same period a year earlier, the company posted earnings per share of $0.37. The company’s revenue for the quarter increased 33.1% year over year.
A number of analysts have recently commented on TREX shares. Stifel Nicolaus cut his price target on Trex shares from $135.00 to $120.00 and set a “buy” rating for the company in a Tuesday, March 1 research note. Zelman & Associates began covering Trex shares in a research note on Monday, March 14. They issued a “hold” rating for the company. Truist Financial cut its price target on Trex shares from $135.00 to $120.00 in a Tuesday, March 1 research note. Loop Capital lowered its price target on shares of Trex from $132.00 to $118.00 in a Tuesday, March 1 report. Finally, TheStreet downgraded Trex shares from a “b” rating to a “c+” rating in a report on Monday, February 28. Three investment analysts gave the stock a sell rating, nine gave the company a hold rating and six gave the company a buy rating. According to MarketBeat, Trex currently has a consensus rating of “Hold” and a consensus target price of $105.81.
Several institutional investors have recently increased or reduced their stake in the company. American Trust purchased a new equity stake in Trex during the fourth quarter valued at approximately $358,000. First Advisors Securities Inc. purchased a new stake in shares of Trex during the fourth quarter valued at approximately $484,000. Norges Bank bought a new stake in Trex in the fourth quarter worth $193,977,000. Stephens Inc. AR increased its position in Trex by 5.2% in the fourth quarter. Stephens Inc. AR now owns 8,022 shares of the construction company worth $1,083,000 after buying 393 additional shares in the last quarter. Finally, JustInvest LLC increased its position in Trex by 115.5% in the fourth quarter. JustInvest LLC now owns 8,144 shares of the construction company worth $1,100,000 after purchasing an additional 4,365 shares in the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s shares.
Shares of TREX opened at $65.91 on Monday. The company has a 50-day moving average price of $81.42 and a 200-day moving average price of $104.72. Trex has a 52-week low of $64.67 and a 52-week high of $140.98. The company has a market capitalization of $7.54 billion, a PE ratio of 36.41 and a beta of 1.52.
Trex Company Profile (Get a rating)
Trex Company, Inc. manufactures and distributes decking, railing, and outdoor living products and accessories for the residential and commercial markets in the United States. The Company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the Trex Transcend, Trex Select, and Trex Enhance names for protection against fading, stains, mildew, and scratches; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a dimmable LED deck light for use on posts, floors and steps.
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