$160.42 Million in Sales Expected for Trex Company, Inc. (TREX) This Quarter
Wall Street analysts forecast that Trex Company, Inc. (NYSE:TREX) will announce $160.42 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Trex’s earnings. The highest sales estimate is $161.10 million and the lowest is $159.60 million. Trex posted sales of $146.45 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.5%. The business is scheduled to issue its next quarterly earnings report after the market closes on Monday, July 31st.
On average, analysts expect that Trex will report full-year sales of $160.42 million for the current fiscal year, with estimates ranging from $519.96 million to $526.66 million. For the next financial year, analysts anticipate that the company will report sales of $562.87 million per share, with estimates ranging from $556.80 million to $572.39 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Trex.
Trex (NYSE:TREX) last announced its quarterly earnings data on Thursday, May 4th. The construction company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.07. Trex had a return on equity of 61.02% and a net margin of 14.35%. The business had revenue of $144.80 million during the quarter, compared to analyst estimates of $144.26 million. During the same period in the prior year, the company earned $0.79 earnings per share. Trex’s revenue was up 9.9% compared to the same quarter last year.
A number of equities research analysts have weighed in on TREX shares. Zacks Investment Research lowered shares of Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. BidaskClub upgraded shares of Trex from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Stifel Nicolaus reiterated a “hold” rating and set a $70.00 target price on shares of Trex in a research note on Friday, July 14th. Seaport Global Securities upgraded shares of Trex from a “neutral” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Thursday, June 1st. Finally, Sidoti started coverage on shares of Trex in a research note on Thursday, June 15th. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Trex has a consensus rating of “Buy” and a consensus price target of $69.20.
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In other news, SVP William R. Gupp sold 3,500 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $64.78, for a total value of $226,730.00. Following the completion of the sale, the senior vice president now directly owns 41,811 shares in the company, valued at approximately $2,708,516.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James E. Cline sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $65.00, for a total value of $975,000.00. Following the completion of the sale, the insider now owns 53,381 shares of the company’s stock, valued at $3,469,765. The disclosure for this sale can be found here. Insiders sold a total of 20,557 shares of company stock valued at $1,332,987 over the last 90 days. 0.95% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Whittier Trust Co. purchased a new position in shares of Trex during the first quarter valued at $103,000. Russell Investments Group Ltd. purchased a new position in shares of Trex during the fourth quarter valued at $127,000. PNC Financial Services Group Inc. increased its position in shares of Trex by 2.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock valued at $142,000 after buying an additional 56 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Trex during the first quarter valued at $177,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Trex during the first quarter valued at $201,000. Hedge funds and other institutional investors own 91.94% of the company’s stock.
Shares of Trex (TREX) traded up 0.73% during trading on Thursday, reaching $76.32. The company’s stock had a trading volume of 13,939 shares. Trex has a one year low of $48.03 and a one year high of $78.15. The firm’s 50-day moving average price is $69.01 and its 200-day moving average price is $68.55. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 31.18 and a beta of 2.34.
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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