Brokers Issue Forecasts for Trex's Q4 Earnings (NYSE:TREX)

Trex Company, Inc. (NYSE:TREX - Free Report) - Equities researchers at B. Riley decreased their Q4 2024 earnings per share (EPS) estimates for Trex in a report released on Tuesday, October 29th. B. Riley analyst A. Rygiel now anticipates that the construction company will earn $0.08 per share for the quarter, down from their previous estimate of $0.11. B. Riley currently has a "Buy" rating and a $97.00 target price on the stock. The consensus estimate for Trex's current full-year earnings is $2.04 per share.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. The business had revenue of $233.72 million during 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 business's quarterly revenue was down 23.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 earnings per share.

A number of other equities analysts have also recently weighed in on TREX. StockNews.com cut shares of Trex from a "hold" rating to a "sell" rating in a research note on Tuesday. DA Davidson increased their target price on shares of Trex from $70.00 to $74.00 and gave the company a "neutral" rating in a report on Tuesday. Jefferies Financial Group reduced their price target on shares of Trex from $77.00 to $73.00 and set a "hold" rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price target on Trex from $95.00 to $69.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. Finally, Stifel Nicolaus decreased their target price on Trex from $110.00 to $85.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Trex has an average rating of "Hold" and an average target price of $79.94.

Trex Price Performance

Shares of TREX stock traded down $0.07 during midday trading on Wednesday, hitting $70.56. The company had a trading volume of 2,532,211 shares, compared to its average volume of 1,005,788. Trex has a 52-week low of $55.67 and a 52-week high of $101.91. The company's 50 day simple moving average is $65.36 and its 200 day simple moving average is $75.57. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 2.45 and a beta of 1.50.

Institutional Investors Weigh In On Trex

Hedge funds have recently made changes to their positions in the business. Impax Asset Management Group plc lifted its holdings in shares of Trex by 44.2% during the 3rd quarter. Impax Asset Management Group plc now owns 822,361 shares of the construction company's stock worth $54,753,000 after acquiring an additional 252,262 shares during the period. Van ECK Associates Corp increased its position in Trex by 40.0% during the third quarter. Van ECK Associates Corp now owns 81,726 shares of the construction company's stock worth $5,137,000 after purchasing an additional 23,351 shares during the last quarter. Pembroke Management LTD raised its stake in Trex by 19.6% during the third quarter. Pembroke Management LTD now owns 371,806 shares of the construction company's stock worth $24,755,000 after purchasing an additional 60,927 shares during the period. Argonautica Private Wealth Management Inc. acquired a new position in shares of Trex in the 3rd quarter valued at $429,000. Finally, Stephens Inc. AR grew its stake in shares of Trex by 7.1% during the 3rd quarter. Stephens Inc. AR now owns 5,693 shares of the construction company's stock valued at $379,000 after buying an additional 375 shares during the period. Institutional investors and hedge funds own 95.96% of the company's stock.

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.