$118.61 Million in Sales Expected for Trex Company Inc (TREX) This Quarter
Analysts predict that Trex Company Inc (NYSE:TREX) will announce sales of $118.61 million for the current quarter, according to Zacks. Five analysts have made estimates for Trex’s earnings. The lowest sales estimate is $118.00 million and the highest is $120.00 million. Trex posted sales of $95.30 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 24.5%. The firm is expected to issue its next quarterly earnings results after the market closes on Wednesday, February 21st.
According to Zacks, analysts expect that Trex will report full-year sales of $118.61 million for the current financial year, with estimates ranging from $560.94 million to $592.94 million. For the next financial year, analysts anticipate that the company will post sales of $639.44 million per share, with estimates ranging from $629.30 million to $646.75 million. Zacks’ sales averages are an average based on a survey of research firms that cover Trex.
TREX has been the topic of a number of recent research reports. Zacks Investment Research upgraded Trex from a “sell” rating to a “buy” rating and set a $123.00 target price on the stock in a report on Thursday, November 2nd. B. Riley upgraded Trex from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $96.00 to $125.00 in a report on Wednesday, January 3rd. Stifel Nicolaus decreased their target price on Trex from $100.00 to $89.00 and set a “hold” rating on the stock in a report on Friday, December 8th. SunTrust Banks restated a “hold” rating and issued a $95.00 target price on shares of Trex in a report on Wednesday, November 1st. Finally, FBR & Co lifted their target price on Trex from $80.00 to $96.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $99.00.
Several hedge funds have recently modified their holdings of TREX. Carillon Tower Advisers Inc. purchased a new position in shares of Trex during the fourth quarter valued at $69,035,000. BlackRock Inc. grew its holdings in shares of Trex by 5.7% during the fourth quarter. BlackRock Inc. now owns 3,974,637 shares of the construction company’s stock valued at $430,812,000 after buying an additional 215,522 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Trex by 312.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 202,975 shares of the construction company’s stock valued at $22,000,000 after buying an additional 153,775 shares in the last quarter. Old Mutual Global Investors UK Ltd. grew its holdings in shares of Trex by 137.0% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 251,973 shares of the construction company’s stock valued at $27,311,000 after buying an additional 145,635 shares in the last quarter. Finally, Wasatch Advisors Inc. grew its holdings in shares of Trex by 9.6% during the second quarter. Wasatch Advisors Inc. now owns 946,311 shares of the construction company’s stock valued at $64,027,000 after buying an additional 83,274 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.
Shares of Trex (NYSE:TREX) traded down $0.67 during midday trading on Monday, hitting $112.61. The company had a trading volume of 206,612 shares, compared to its average volume of 214,031. The firm has a market cap of $3,333.25, a PE ratio of 37.17 and a beta of 2.31. Trex has a twelve month low of $61.57 and a twelve month high of $120.40.
TRADEMARK VIOLATION WARNING: This piece was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another website, it was illegally stolen and reposted in violation of US & international trademark and copyright law. The correct version of this piece can be read at https://www.thecerbatgem.com/2018/02/17/118-61-million-in-sales-expected-for-trex-company-inc-trex-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Trex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trex and related companies with MarketBeat.com's FREE daily email newsletter.