B. Riley Has Bearish Estimate for Trex Q4 Earnings

Trex Company, Inc. (NYSE:TREX) – B. Riley cut their Q4 2024 earnings per share estimates for Trex in a report issued on Tuesday, October 29th. B. Riley analyst A. Rygiel now expects that the construction company will post earnings of $0.08 per share for the quarter, down from their prior forecast 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.

Other equities research analysts have also recently issued research reports about the company. Truist Financial dropped their price target on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. BMO Capital Markets increased their price objective on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday. Stifel Nicolaus decreased their price target on shares of Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. DA Davidson boosted their price objective on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, UBS Group decreased their price objective on Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Trex currently has an average rating of “Hold” and a consensus target price of $79.94.

Trex Stock Performance

Shares of NYSE:TREX opened at $70.63 on Wednesday. Trex has a 52-week low of $54.57 and a 52-week high of $101.91. The company has a market capitalization of $7.68 billion, a P/E ratio of 29.19, a price-to-earnings-growth ratio of 2.45 and a beta of 1.50. The company has a 50-day simple moving average of $65.23 and a 200 day simple moving average of $75.72.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The company had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. Trex’s revenue for the quarter was down 23.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS.

Institutional Investors Weigh In On Trex

A number of large investors have recently modified their holdings of TREX. Wealth Enhancement Advisory Services LLC increased its position in Trex by 3.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,512 shares of the construction company’s stock worth $1,647,000 after purchasing an additional 573 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Trex by 18.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 124,389 shares of the construction company’s stock valued at $12,408,000 after buying an additional 19,286 shares during the period. State of Michigan Retirement System lifted its stake in Trex by 2.3% in the first quarter. State of Michigan Retirement System now owns 26,622 shares of the construction company’s stock valued at $2,656,000 after buying an additional 600 shares during the period. Commonwealth Equity Services LLC increased its stake in Trex by 3.9% in the first quarter. Commonwealth Equity Services LLC now owns 35,956 shares of the construction company’s stock valued at $3,587,000 after purchasing an additional 1,344 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Trex by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 43,442 shares of the construction company’s stock worth $4,333,000 after buying an additional 11,619 shares during the period. Institutional investors and hedge funds 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.