Brokerages forecast that Trex Company Inc (NYSE:TREX) will announce $118.61 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Trex’s earnings, with estimates ranging from $118.00 million to $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 business is scheduled to announce its next quarterly earnings results on Tuesday, February 20th.

On average, analysts expect that Trex will report full-year sales of $118.61 million for the current fiscal year, with estimates ranging from $560.94 million to $592.94 million. For the next financial year, analysts forecast that the firm will post sales of $639.44 million per share, with estimates ranging from $629.30 million to $646.75 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Trex.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, October 30th. The construction company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. Trex had a net margin of 16.61% and a return on equity of 51.30%. The business had revenue of $140.19 million for the quarter, compared to analysts’ expectations of $125.30 million. During the same period in the previous year, the business earned $0.26 earnings per share. The company’s revenue was up 32.0% on a year-over-year basis.

A number of research analysts recently issued reports on the company. 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. Zacks Investment Research lowered Trex from a “buy” rating to a “hold” rating in a report on Saturday, November 11th. B. Riley reaffirmed a “hold” rating and set a $96.00 target price on shares of Trex in a report on Wednesday, November 8th. BidaskClub lowered Trex from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $89.00 target price on shares of Trex in a report on Wednesday, November 1st. Eight research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $90.00.

In related news, Director Frank H. Merlotti, Jr. sold 2,158 shares of Trex stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $105.51, for a total value of $227,690.58. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard E. Posey sold 2,322 shares of Trex stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $111.19, for a total value of $258,183.18. Following the completion of the transaction, the director now directly owns 11,591 shares in the company, valued at approximately $1,288,803.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,596 shares of company stock worth $607,060. 0.95% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. increased its stake in Trex by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 6,776 shares of the construction company’s stock worth $458,000 after purchasing an additional 18 shares in the last quarter. Pinebridge Investments L.P. increased its stake in Trex by 1.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,873 shares of the construction company’s stock worth $262,000 after purchasing an additional 41 shares in the last quarter. Virginia Retirement Systems ET AL increased its stake in Trex by 1.6% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 6,200 shares of the construction company’s stock worth $419,000 after purchasing an additional 100 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Trex by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,720 shares of the construction company’s stock worth $1,537,000 after purchasing an additional 104 shares in the last quarter. Finally, Renaissance Group LLC increased its stake in Trex by 2.5% in the 2nd quarter. Renaissance Group LLC now owns 4,856 shares of the construction company’s stock worth $329,000 after purchasing an additional 119 shares in the last quarter. 89.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Trex (NYSE:TREX) opened at $109.76 on Wednesday. Trex has a one year low of $61.57 and a one year high of $118.65. The firm has a market cap of $3,270.00, a PE ratio of 37.35 and a beta of 2.43.

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Trex Company Profile

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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