William Blair Has Positive Outlook for Trex FY2024 Earnings

Trex Company, Inc. (NYSE:TREX) – Investment analysts at William Blair boosted their FY2024 earnings per share (EPS) estimates for Trex in a research note issued on Tuesday, October 29th. William Blair analyst R. Merkel now expects that the construction company will earn $2.04 per share for the year, up from their previous forecast of $1.98. The consensus estimate for Trex’s current full-year earnings is $2.04 per share. William Blair also issued estimates for Trex’s FY2025 earnings at $2.22 EPS.

Trex (NYSE:TREX) last issued its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business had revenue of $233.72 million for the quarter, compared to analysts’ expectations of $225.42 million. During the same period in the previous year, the firm posted $0.57 EPS. The company’s quarterly revenue was down 23.1% on a year-over-year basis.

Several other equities research analysts also recently commented on the stock. Barclays reduced their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday. BMO Capital Markets raised their target price on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday. Benchmark dropped their price target on Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, DA Davidson upped their target price on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $79.94.

Trex Price Performance

Shares of TREX opened at $70.85 on Thursday. The company has a 50-day moving average of $65.46 and a two-hundred day moving average of $75.54. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 2.45 and a beta of 1.50. Trex has a one year low of $55.67 and a one year high of $101.91.

Institutional Trading of Trex

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Trex by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock valued at $1,028,829,000 after buying an additional 65,428 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in shares of Trex by 3.2% in the second quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock valued at $146,288,000 after purchasing an additional 60,405 shares during the last quarter. American Century Companies Inc. grew its position in shares of Trex by 7.1% in the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock valued at $136,631,000 after purchasing an additional 122,658 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Trex by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company’s stock worth $90,752,000 after purchasing an additional 92,563 shares during the period. Finally, Blair William & Co. IL lifted its position in shares of Trex by 0.6% during the 2nd quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company’s stock worth $84,803,000 after purchasing an additional 6,901 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

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.