Trex Company Inc (NYSE:TREX) – Research analysts at B. Riley issued their FY2018 EPS estimates for Trex in a research report issued on Thursday. B. Riley analyst A. Rygiel forecasts that the construction company will post earnings per share of $4.20 for the year. B. Riley currently has a “Buy” rating and a $126.00 target price on the stock. B. Riley also issued estimates for Trex’s Q4 2018 earnings at $0.92 EPS and FY2019 earnings at $4.70 EPS.
A number of other equities analysts also recently weighed in on the stock. Stifel Nicolaus restated a “hold” rating and set a $110.00 target price (up from $100.00) on shares of Trex in a report on Thursday, February 22nd. Zacks Investment Research upgraded shares of Trex from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Thursday, January 11th. SunTrust Banks restated a “hold” rating and set a $95.00 target price on shares of Trex in a report on Wednesday, November 1st. Finally, FBR & Co boosted their target price on shares of Trex from $80.00 to $96.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $102.14.
Trex (NYSE:TREX) last posted its quarterly earnings data on Wednesday, February 21st. The construction company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.02. Trex had a net margin of 16.83% and a return on equity of 46.94%. The company had revenue of $122.21 million for the quarter, compared to the consensus estimate of $118.48 million. During the same period last year, the company earned $0.43 earnings per share. The firm’s revenue was up 28.2% compared to the same quarter last year.
Trex declared that its board has approved a share buyback program on Wednesday, February 21st that authorizes the company to buyback 2,900,000 shares. This buyback authorization authorizes the construction company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Trex news, insider James E. Cline sold 21,669 shares of Trex stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $106.58, for a total transaction of $2,309,482.02. Following the completion of the transaction, the insider now directly owns 68,736 shares of the company’s stock, valued at $7,325,882.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP William R. Gupp sold 3,500 shares of Trex stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $105.99, for a total transaction of $370,965.00. Following the transaction, the senior vice president now directly owns 36,438 shares of the company’s stock, valued at $3,862,063.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,967 shares of company stock worth $3,221,225. 0.95% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. USA Mutuals Advisors Inc. bought a new position in Trex during the fourth quarter worth $104,000. Bessemer Group Inc. boosted its position in Trex by 352.7% during the third quarter. Bessemer Group Inc. now owns 1,435 shares of the construction company’s stock worth $129,000 after purchasing an additional 1,118 shares during the period. Greenwood Capital Associates LLC bought a new position in Trex during the third quarter worth $202,000. Everence Capital Management Inc. bought a new position in Trex during the third quarter worth $212,000. Finally, Commerce Bank bought a new position in Trex during the fourth quarter worth $217,000. 90.58% of the stock is owned by hedge funds and other institutional investors.
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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