Trex Company, Inc. (NYSE:TREX) Expected to Post Quarterly Sales of $236.76 Million


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Analysts expect Trex Company, Inc. (NYSE:TREX) to report sales of $236.76 million for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Trex’s earnings, with the highest sales estimate coming in at $241.00 million and the lowest estimate coming in at $235.00 million. Trex reported sales of $200.40 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.1%. The firm is expected to report its next quarterly earnings report after the market closes on Monday, May 10th.

According to Zacks, analysts expect that Trex will report full year sales of $1.06 billion for the current fiscal year, with estimates ranging from $1.01 billion to $1.09 billion. For the next financial year, analysts expect that the company will post sales of $1.18 billion, with estimates ranging from $1.12 billion to $1.24 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Trex.

Trex (NYSE:TREX) last released its quarterly earnings results on Sunday, February 21st. The construction company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Trex had a return on equity of 35.52% and a net margin of 20.53%. The business had revenue of $228.29 million during the quarter, compared to analysts’ expectations of $215.99 million. During the same period in the prior year, the business posted $0.31 EPS. The company’s revenue was up 38.5% compared to the same quarter last year.

TREX has been the subject of several research reports. Truist Securities raised Trex from a “hold” rating to a “buy” rating in a research report on Monday, April 19th. Truist upgraded shares of Trex from a “hold” rating to a “buy” rating and raised their price objective for the company from $100.00 to $120.00 in a report on Monday, April 12th. BMO Capital Markets assumed coverage on Trex in a report on Wednesday, January 13th. They set a “market perform” rating and a $90.00 price target for the company. Zacks Investment Research downgraded shares of Trex from a “buy” rating to a “hold” rating in a research note on Friday, February 26th. Finally, Loop Capital assumed coverage on shares of Trex in a research note on Tuesday, April 13th. They set a “buy” rating and a $110.00 price target for the company. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Trex presently has a consensus rating of “Hold” and a consensus price target of $85.53.

In other news, Director James E. Cline sold 12,588 shares of the business’s stock in a transaction on Wednesday, February 24th. The shares were sold at an average price of $92.13, for a total transaction of $1,159,732.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jay M. Gratz sold 3,692 shares of the company’s stock in a transaction on Friday, March 26th. The shares were sold at an average price of $90.13, for a total transaction of $332,759.96. Following the completion of the transaction, the director now owns 24,770 shares of the company’s stock, valued at $2,232,520.10. The disclosure for this sale can be found here. Insiders sold 20,280 shares of company stock worth $1,860,572 over the last three months. 0.79% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its holdings in shares of Trex by 23.0% during the first quarter. Envestnet Asset Management Inc. now owns 127,332 shares of the construction company’s stock worth $11,656,000 after purchasing an additional 23,805 shares during the period. Oak Ridge Investments LLC boosted its stake in Trex by 532.9% during the 1st quarter. Oak Ridge Investments LLC now owns 89,883 shares of the construction company’s stock valued at $8,228,000 after purchasing an additional 75,682 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Trex by 27.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 14,197 shares of the construction company’s stock worth $1,299,000 after buying an additional 3,101 shares in the last quarter. State of Michigan Retirement System boosted its stake in Trex by 1.7% during the first quarter. State of Michigan Retirement System now owns 42,848 shares of the construction company’s stock valued at $3,922,000 after buying an additional 700 shares in the last quarter. Finally, Raymond James Trust N.A. grew its holdings in Trex by 52.8% during the first quarter. Raymond James Trust N.A. now owns 4,142 shares of the construction company’s stock worth $379,000 after acquiring an additional 1,431 shares during the period. Hedge funds and other institutional investors own 98.56% of the company’s stock.

TREX opened at $108.10 on Wednesday. The stock’s 50-day moving average price is $98.58 and its 200 day moving average price is $88.76. Trex has a 12-month low of $53.03 and a 12-month high of $110.79. The firm has a market cap of $12.52 billion, a price-to-earnings ratio of 74.81 and a beta of 1.46.

Trex Company Profile

Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

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Earnings History and Estimates for Trex (NYSE:TREX)

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