• Thu. May 19th, 2022

Brokers expect Trex Company, Inc. (NYSE:TREX) to post quarterly sales of $327.04 million

ByLinda W. Smith

Apr 12, 2022

Stock analysts expect Trex Company, Inc. (NYSE:TREX – Get Rating) to post sales of $327.04 million in the current fiscal quarter, reports Zacks Investment Research. Six analysts have made estimates of Trex’s earnings, with the lowest sales estimate being $325.20 million and the highest estimate being $330.00 million. Trex reported sales of $245.52 million in the same quarter last year, suggesting a positive growth rate of 33.2% year over year. The company is due to release its next earnings report on Monday, January 1.

On average, analysts expect Trex to report annual sales of $1.39 billion for the current year, with estimates ranging from $1.37 billion to $1.40 billion. For next 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 sales averages are an average average based on a survey of sell-side research companies that cover Trex.

Trex (NYSE:TREX – Get Rating) last reported quarterly earnings data on Monday, February 28. The construction company reported earnings per share (EPS) of $0.55 for the quarter, beating the Zacks consensus estimate of $0.53 by $0.02. The company posted revenue of $303.96 million in the quarter, versus a consensus estimate of $302.64 million. Trex had a return on equity of 36.80% and a net margin of 17.41%. The company’s revenue increased 33.1% year over year. During the same period of the previous year, the company posted EPS of $0.37.

Several research analysts have weighed in on the company. UBS Group took over Trex’s coverage in a Wednesday, Jan. 19 research note. They issued a “neutral” rating and a price target of $111.00 for the company. BNP Paribas downgraded Trex from a “neutral” rating to an “underperforming” rating and set a price target of $81.00 for the company. in a Monday, March 28 research note. B. Riley moved Trex from a “neutral” rating to a “buy” rating and set a price target of $88.00 for the company in a Wednesday, April 6 research note. StockNews.com supported Trex’s coverage in a research note on Thursday, March 31. They issued a “maintaining” rating for the company. Finally, Stifel Nicolaus lowered his price target on Trex from $135.00 to $120.00 and set a “buy” rating for the company in a Tuesday, March 1 research note. Four equity research analysts gave the stock a sell rating, eight gave the company a hold rating and seven gave the company a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $102.35.

NYSE:TREX shares traded at $0.34 in midday trading on Monday, hitting $63.67. 1,094,535 shares of the company were traded, against an average volume of 1,396,196. Trex has a 52-week low of $61.28 and a 52-week high of $140.98. The company has a market capitalization of $7.28 billion, a PE ratio of 35.18 and a beta of 1.45. The company’s 50-day moving average price is $78.40 and its 200-day moving average price is $102.93.

Hedge funds have recently changed their equity holdings. Comgest Global Investors SAS increased its stake in Trex by 6.1% in the third quarter. Comgest Global Investors SAS now owns 22,813 shares of the construction company worth $2,325,000 after acquiring 1,313 additional shares last quarter. Oppenheimer Asset Management Inc. increased its stake in Trex shares by 6.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 32,650 shares of the construction company worth $4,408,000 after purchasing an additional 1,860 shares in the last quarter. Retirement Systems of Alabama increased its stake in Trex shares by 0.9% in the fourth quarter. Retirement Systems of Alabama now owns 150,743 shares of the construction company worth $20,355,000 after buying 1,393 additional shares in the last quarter. Bank of America Corp DE increased its stake in Trex shares by 4.9% in the second quarter. Bank of America Corp DE now owns 1,455,397 shares of the construction company worth $148,754,000 after buying an additional 68,431 shares in the last quarter. Finally, Laurus Investment Counsel Inc. increased its stake in Trex shares by 1.1% in the fourth quarter. Laurus Investment Counsel Inc. now owns 132,471 shares of the construction company worth $22,862,000 after purchasing an additional 1,496 shares in the last quarter. 92.92% of the shares are currently held by institutional investors.

About Trex (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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