Brokerages Expect Trex Company, Inc. (TREX) Will Announce Quarterly Sales of $125.35 Million
Analysts predict that Trex Company, Inc. (NYSE:TREX) will post $125.35 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Trex’s earnings, with estimates ranging from $123.70 million to $126.00 million. Trex posted sales of $106.17 million in the same quarter last year, which suggests a positive year over year growth rate of 18.1%. The firm is expected to report its next quarterly earnings report on Monday, November 6th.
On average, analysts expect that Trex will report full year sales of $125.35 million for the current financial year, with estimates ranging from $543.30 million to $548.75 million. For the next financial year, analysts anticipate that the business will report sales of $630.96 million per share, with estimates ranging from $616.60 million to $640.65 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Trex.
Trex (NYSE:TREX) last released its quarterly earnings results on Monday, July 31st. The construction company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.09. The firm had revenue of $158.00 million for the quarter, compared to analyst estimates of $160.40 million. Trex had a net margin of 15.12% and a return on equity of 56.76%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share.
Several research firms recently commented on TREX. Griffin Securities downgraded shares of Trex from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Trex from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Sidoti began coverage on shares of Trex in a research report on Thursday, June 15th. They set a “buy” rating on the stock. BidaskClub upgraded shares of Trex from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. Finally, Seaport Global Securities upgraded shares of Trex from a “neutral” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Thursday, June 1st. Three analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. Trex presently has an average rating of “Buy” and an average price target of $75.20.
Trex (TREX) traded up 2.58% during trading on Wednesday, reaching $82.79. 160,467 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $76.95 and its 200 day moving average price is $70.85. Trex has a 52-week low of $50.81 and a 52-week high of $84.28. The firm has a market cap of $2.43 billion, a P/E ratio of 31.74 and a beta of 2.32.
In other news, SVP William R. Gupp sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $77.18, for a total value of $270,130.00. Following the transaction, the senior vice president now owns 41,711 shares in the company, valued at approximately $3,219,254.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard E. Posey sold 3,167 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $80.00, for a total transaction of $253,360.00. Following the completion of the transaction, the director now owns 11,795 shares in the company, valued at approximately $943,600. The disclosure for this sale can be found here. Insiders sold a total of 14,680 shares of company stock worth $1,145,196 in the last 90 days. Corporate insiders own 0.95% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of TREX. BlackRock Inc. lifted its position in shares of Trex by 132,134.8% in the 1st quarter. BlackRock Inc. now owns 3,715,799 shares of the construction company’s stock worth $257,840,000 after purchasing an additional 3,712,989 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Trex in the 2nd quarter worth approximately $76,849,000. Clearbridge Investments LLC lifted its position in shares of Trex by 43.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,834,959 shares of the construction company’s stock worth $127,328,000 after purchasing an additional 554,073 shares during the period. Vanguard Group Inc. lifted its position in shares of Trex by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 3,251,958 shares of the construction company’s stock worth $225,653,000 after purchasing an additional 197,846 shares during the period. Finally, Teachers Advisors LLC lifted its position in shares of Trex by 361.9% in the 2nd quarter. Teachers Advisors LLC now owns 236,664 shares of the construction company’s stock worth $16,013,000 after purchasing an additional 185,424 shares during the period. Hedge funds and other institutional investors own 91.82% of the company’s stock.
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.
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