$118.61 Million in Sales Expected for Trex Company Inc (TREX) This Quarter

Equities research analysts expect that Trex Company Inc (NYSE:TREX) will announce $118.61 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Trex’s earnings, with the highest sales estimate coming in at $120.00 million and the lowest estimate coming in at $118.00 million. Trex reported sales of $95.30 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 24.5%. The business is expected to report its next quarterly earnings results after the market closes on Wednesday, February 21st.

On average, 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 forecast that the company will post sales of $639.44 million per share, with estimates ranging from $629.30 million to $646.75 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Trex.

Several research firms recently commented on TREX. Zacks Investment Research raised Trex from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Thursday, January 11th. B. Riley raised Trex from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $96.00 to $125.00 in a research report on Wednesday, January 3rd. Stifel Nicolaus lowered their price objective on Trex from $100.00 to $89.00 and set a “hold” rating for the company in a research report on Friday, December 8th. SunTrust Banks reaffirmed a “hold” rating and set a $95.00 price objective on shares of Trex in a research report on Wednesday, November 1st. Finally, FBR & Co upped their price objective on Trex from $80.00 to $96.00 and gave the stock a “neutral” rating in a research 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 given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $99.00.

In other news, Director Richard E. Posey sold 2,322 shares of the business’s 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 sale, the director now directly owns 11,591 shares of the company’s stock, valued at approximately $1,288,803.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank H. Merlotti, Jr. sold 2,158 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $105.51, for a total value of $227,690.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,956 shares of company stock valued at $767,076. Insiders own 0.95% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Trex by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,720 shares of the construction company’s stock valued at $1,537,000 after purchasing an additional 104 shares during the last quarter. Suntrust Banks Inc. lifted its holdings in shares of Trex by 7.3% in the 2nd quarter. Suntrust Banks Inc. now owns 4,894 shares of the construction company’s stock valued at $331,000 after purchasing an additional 331 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Trex by 27.7% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,546 shares of the construction company’s stock valued at $228,000 after purchasing an additional 553 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Trex by 9.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,418 shares of the construction company’s stock valued at $668,000 after purchasing an additional 620 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Trex by 15.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,741 shares of the construction company’s stock valued at $514,000 after purchasing an additional 622 shares during the last quarter. 88.72% of the stock is owned by institutional investors and hedge funds.

Trex (NYSE:TREX) opened at $108.37 on Monday. Trex has a one year low of $61.57 and a one year high of $120.40. The company has a market capitalization of $3,188.79, a price-to-earnings ratio of 35.77 and a beta of 2.31.

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About Trex

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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