What is B. Riley’s Forecast for Trex FY2024 Earnings?

Trex Company, Inc. (NYSE:TREX) – Research analysts at B. Riley lifted their FY2024 earnings per share (EPS) estimates for shares of Trex in a research report issued to clients and investors on Tuesday, October 29th. B. Riley analyst A. Rygiel now anticipates that the construction company will post earnings per share of $2.08 for the year, up from their prior estimate of $2.05. B. Riley has a “Buy” rating and a $97.00 price target on the stock. The consensus estimate for Trex’s current full-year earnings is $2.04 per share.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The firm’s revenue was down 23.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share.

Other research analysts also recently issued research reports about the company. Bank of America lowered their price target on Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Stephens lowered shares of Trex from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $115.00 to $72.00 in a research note on Wednesday, August 7th. Loop Capital cut shares of Trex from a “buy” rating to a “hold” rating and lowered their price target for the company from $95.00 to $75.00 in a report on Wednesday, August 7th. DA Davidson upped their target price on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, BMO Capital Markets boosted their price target on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.94.

Trex Stock Performance

NYSE TREX opened at $70.55 on Thursday. The firm’s 50 day moving average price is $65.36 and its two-hundred day moving average price is $75.57. Trex has a twelve month low of $55.67 and a twelve month high of $101.91. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 2.45 and a beta of 1.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd grew its position in Trex by 11.3% during the first quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock worth $121,000 after buying an additional 123 shares in the last quarter. Harrington Investments INC grew its holdings in shares of Trex by 1.4% during the 2nd quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock worth $727,000 after purchasing an additional 140 shares in the last quarter. Avantax Advisory Services Inc. increased its position in shares of Trex by 4.6% during the first quarter. Avantax Advisory Services Inc. now owns 3,950 shares of the construction company’s stock valued at $394,000 after purchasing an additional 173 shares during the period. First Citizens Bank & Trust Co. raised its stake in shares of Trex by 2.6% in the second quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company’s stock valued at $523,000 after purchasing an additional 176 shares in the last quarter. Finally, Values First Advisors Inc. lifted its position in Trex by 3.6% in the second quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company’s stock worth $497,000 after purchasing an additional 230 shares during the period. Institutional investors own 95.96% of the company’s stock.

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.