William Blair Analysts Raise Earnings Estimates for Trex

Trex Company, Inc. (NYSE:TREX) – Equities research analysts at William Blair upped their Q4 2024 earnings estimates for shares of Trex in a research report issued to clients and investors on Thursday, January 23rd. William Blair analyst R. Merkel now anticipates that the construction company will post earnings of $0.06 per share for the quarter, up from their prior forecast of $0.04. The consensus estimate for Trex’s current full-year earnings is $2.05 per share. William Blair also issued estimates for Trex’s Q1 2025 earnings at $0.64 EPS and Q4 2025 earnings at $0.26 EPS.

A number of other analysts have also commented on the stock. BMO Capital Markets lifted their price target on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Robert W. Baird boosted their target price on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Citigroup dropped their price target on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Jefferies Financial Group reduced their price objective on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Finally, StockNews.com cut Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Trex currently has an average rating of “Hold” and a consensus price target of $79.81.

Trex Stock Performance

NYSE TREX opened at $72.19 on Monday. Trex has a one year low of $58.68 and a one year high of $101.91. The stock has a 50-day moving average of $72.43 and a 200 day moving average of $70.05. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 3.06 and a beta of 1.50.

Trex (NYSE:TREX) last posted its quarterly 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. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. The company’s revenue was down 23.1% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can grew its holdings in Trex by 147.5% during the 2nd quarter. Bank of Montreal Can now owns 36,671 shares of the construction company’s stock valued at $2,718,000 after buying an additional 21,852 shares in the last quarter. Millennium Management LLC increased its holdings in Trex by 354.7% in the 2nd quarter. Millennium Management LLC now owns 206,206 shares of the construction company’s stock valued at $15,284,000 after acquiring an additional 160,853 shares during the last quarter. Creative Planning lifted its stake in Trex by 0.7% in the 2nd quarter. Creative Planning now owns 60,284 shares of the construction company’s stock worth $4,468,000 after purchasing an additional 412 shares in the last quarter. Quarry LP boosted its holdings in shares of Trex by 576.4% during the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after purchasing an additional 513 shares during the last quarter. Finally, Truist Financial Corp grew its position in shares of Trex by 15.0% during the second quarter. Truist Financial Corp now owns 3,949 shares of the construction company’s stock valued at $293,000 after purchasing an additional 515 shares in the last quarter. Institutional investors 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.