Trex (NYSE:TREX) Announces Earnings Results

Trex (NYSE:TREX) issued its earnings results on Monday. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05, Briefing.com reports. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The business’s revenue for the quarter was down 23.1% compared to the same quarter last year. Trex updated its FY 2024 guidance to EPS.

Trex Price Performance

Shares of TREX stock traded down $0.08 during trading hours on Wednesday, reaching $70.55. The company had a trading volume of 2,532,386 shares, compared to its average volume of 1,005,788. Trex has a 12 month low of $55.67 and a 12 month high of $101.91. The business has a fifty day simple moving average of $65.36 and a 200-day simple moving average of $75.57. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 2.45 and a beta of 1.50.

Wall Street Analyst Weigh In

TREX has been the subject of a number of recent research reports. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a report on Tuesday. Robert W. Baird increased their price target on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Benchmark decreased their price target on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Barclays decreased their target price on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $79.94.

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.