Zacks: Brokerages Anticipate Trex Company, Inc. (NYSE:TREX) Will Announce Quarterly Sales of $303.40 Million

Equities research analysts expect Trex Company, Inc. (NYSE:TREX) to report $303.40 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Trex’s earnings, with the lowest sales estimate coming in at $300.70 million and the highest estimate coming in at $307.70 million. Trex reported sales of $220.65 million in the same quarter last year, which indicates a positive year-over-year growth rate of 37.5%. The company is scheduled to report its next quarterly earnings results on Monday, August 2nd.

On average, analysts expect that Trex will report full-year sales of $1.13 billion for the current fiscal year, with estimates ranging from $1.06 billion to $1.18 billion. For the next fiscal year, analysts expect that the company will post sales of $1.27 billion, with estimates ranging from $1.18 billion to $1.35 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Trex.

Trex (NYSE:TREX) last announced its earnings results on Sunday, May 9th. The construction company reported $0.42 earnings per share 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 return on equity of 33.59% and a net margin of 19.63%. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period last year, the company posted $0.73 earnings per share.

Several equities analysts recently issued reports on TREX shares. JPMorgan Chase & Co. started coverage on Trex in a report on Wednesday, May 5th. They issued a “neutral” rating and a $109.00 price target on the stock. Barclays raised their price target on Trex from $104.00 to $114.00 and gave the company an “equal weight” rating in a report on Tuesday, May 11th. Robert W. Baird raised their price target on Trex from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, May 11th. Truist Securities raised their price target on Trex from $20.00 to $125.00 in a report on Tuesday, May 11th. Finally, Loop Capital started coverage on Trex in a report on Tuesday, April 13th. They set a “buy” rating and a $110.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Trex currently has a consensus rating of “Hold” and a consensus target price of $96.72.

Trex stock opened at $99.10 on Friday. The firm has a 50-day moving average price of $101.15. The company has a market capitalization of $11.43 billion, a PE 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.

In related news, Director Jay M. Gratz sold 2,140 shares of Trex stock in a transaction that occurred on Friday, May 14th. The stock was sold at an average price of $100.92, for a total value of $215,968.80. Following the sale, the director now owns 22,630 shares of the company’s stock, valued at approximately $2,283,819.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP William R. Gupp sold 7,288 shares of Trex stock in a transaction that occurred on Wednesday, May 12th. The shares were sold at an average price of $102.85, for a total value of $749,570.80. Insiders have sold a total of 27,004 shares of company stock worth $2,719,210 in the last quarter. 0.69% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. raised its position in Trex by 71.5% in the 1st quarter. Landscape Capital Management L.L.C. now owns 77,458 shares of the construction company’s stock valued at $7,091,000 after buying an additional 32,289 shares during the last quarter. Tributary Capital Management LLC increased its position in shares of Trex by 122.6% during the 1st quarter. Tributary Capital Management LLC now owns 23,600 shares of the construction company’s stock worth $2,160,000 after purchasing an additional 13,000 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Trex by 2.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,481,507 shares of the construction company’s stock worth $124,032,000 after purchasing an additional 38,172 shares in the last quarter. HMS Capital Management LLC boosted its holdings in shares of Trex by 19.9% in the 1st quarter. HMS Capital Management LLC now owns 20,045 shares of the construction company’s stock valued at $1,834,000 after buying an additional 3,326 shares during the last quarter. Finally, Landsberg Bennett & Dubbaneh LLC acquired a new stake in shares of Trex in the 1st quarter valued at approximately $1,720,000. 93.83% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Trex (NYSE:TREX)

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