Analysts Anticipate Trex Company, Inc. (NYSE:TREX) Will Post Quarterly Sales of $303.40 Million

Wall Street brokerages forecast that Trex Company, Inc. (NYSE:TREX) will post $303.40 million in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Trex’s earnings. The lowest sales estimate is $300.70 million and the highest is $307.70 million. Trex posted sales of $220.65 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 37.5%. The firm is scheduled to report its next quarterly earnings results on Monday, August 2nd.

According to Zacks, analysts expect that Trex will report full-year sales of $1.13 billion for the current year, with estimates ranging from $1.06 billion to $1.18 billion. For the next financial year, analysts forecast that the firm will post sales of $1.27 billion, with estimates ranging from $1.18 billion to $1.35 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Trex.

Trex (NYSE:TREX) last posted its quarterly earnings results on Sunday, May 9th. The construction company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.04. The company had revenue of $245.52 million during the quarter, compared to analyst estimates of $239.31 million. Trex had a net margin of 19.63% and a return on equity of 33.59%. The firm’s revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.73 EPS.

A number of research analysts have issued reports on TREX shares. B. Riley boosted their price objective on shares of Trex from $81.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, May 12th. Truist raised shares of Trex from a “hold” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $120.00 in a research report on Monday, April 12th. Loop Capital started coverage on shares of Trex in a research report on Tuesday, April 13th. They set a “buy” rating and a $110.00 price objective on the stock. Robert W. Baird boosted their price objective on shares of Trex from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, May 11th. Finally, Truist Securities upped their target price on shares of Trex from $20.00 to $125.00 in a research report on Tuesday, May 11th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Trex has a consensus rating of “Hold” and a consensus price target of $96.72.

In related news, Director Jay M. Gratz sold 3,692 shares of the stock in a transaction dated Friday, March 26th. The shares were sold at an average price of $90.13, for a total transaction of $332,759.96. Following the sale, the director now directly owns 24,770 shares of the company’s stock, valued at approximately $2,232,520.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay M. Gratz sold 2,140 shares of the stock in a transaction dated Friday, May 14th. The shares were sold at an average price of $100.92, for a total transaction of $215,968.80. Following the sale, the director now directly owns 22,630 shares in the company, valued at $2,283,819.60. The disclosure for this sale can be found here. Insiders have sold a total of 27,004 shares of company stock worth $2,719,210 over the last three months. 0.69% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tompkins Financial Corp purchased a new position in shares of Trex during the fourth quarter valued at approximately $31,000. Graves Light Private Wealth Management Inc. bought a new stake in Trex in the 4th quarter worth approximately $33,000. Montag A & Associates Inc. purchased a new stake in Trex during the 4th quarter valued at $39,000. IFP Advisors Inc lifted its holdings in shares of Trex by 361.6% during the 1st quarter. IFP Advisors Inc now owns 457 shares of the construction company’s stock valued at $41,000 after buying an additional 358 shares during the period. Finally, Zions Bancorporation N.A. purchased a new position in shares of Trex in the 1st quarter worth $67,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Trex stock opened at $99.10 on Friday. The firm’s fifty day moving average is $101.15. The stock has a market cap of $11.43 billion, a P/E ratio of 63.32 and a beta of 1.47. Trex has a 12-month low of $54.10 and a 12-month high of $111.04.

About Trex

Trex Company, Inc manufactures and distributes wood and plastic composite products, and related accessories primarily for residential decking, and railing applications in the United States. It offers Trex Transcend, Trex Select, and Trex Enhance protective shells for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening systems; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.

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