Zacks: Analysts Anticipate Trex Company, Inc. (TREX) to Post $1.17 Earnings Per Share

Wall Street brokerages forecast that Trex Company, Inc. (NYSE:TREX) will report earnings of $1.17 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Trex’s earnings. The lowest EPS estimate is $1.12 and the highest is $1.23. Trex posted earnings per share of $0.95 in the same quarter last year, which suggests a positive year-over-year growth rate of 23.2%. The company is expected to report its next quarterly earnings report on Thursday, May 3rd.

On average, analysts expect that Trex will report full-year earnings of $4.20 per share for the current year, with EPS estimates ranging from $4.15 to $4.30. For the next year, analysts anticipate that the business will post earnings of $4.73 per share, with EPS estimates ranging from $4.70 to $4.80. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Trex.

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Trex (NYSE:TREX) last released its earnings results 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 return on equity of 46.94% and a net margin of 16.83%. The firm had revenue of $122.21 million for the quarter, compared to analysts’ expectations of $118.48 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. The business’s revenue for the quarter was up 28.2% on a year-over-year basis.

A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Trex from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a research report on Tuesday, February 27th. B. Riley lifted their price target on Trex from $125.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $110.00 price target (up from $100.00) on shares of Trex in a research note on Thursday, February 22nd. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $102.00.

In related news, Director Patricia B. Robinson sold 3,237 shares of Trex stock in a transaction that occurred on Friday, April 6th. The stock was sold at an average price of $112.14, for a total value of $362,997.18. Following the transaction, the director now directly owns 14,901 shares of the company’s stock, valued at $1,670,998.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Christopher Paul Gerhard sold 3,500 shares of Trex stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $107.48, for a total value of $376,180.00. Following the completion of the transaction, the vice president now directly owns 15,350 shares in the company, valued at $1,649,818. The disclosure for this sale can be found here. Insiders have sold 42,592 shares of company stock worth $4,582,460 over the last three months. Insiders own 0.95% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. U S Global Investors Inc. acquired a new position in shares of Trex in the third quarter worth approximately $1,441,000. Bamco Inc. NY lifted its stake in shares of Trex by 4.4% in the third quarter. Bamco Inc. NY now owns 1,185,205 shares of the construction company’s stock worth $106,751,000 after acquiring an additional 49,870 shares during the period. Wells Fargo & Company MN lifted its stake in Trex by 29.2% in the third quarter. Wells Fargo & Company MN now owns 55,242 shares of the construction company’s stock valued at $4,976,000 after buying an additional 12,472 shares during the period. JPMorgan Chase & Co. lifted its stake in Trex by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 465,162 shares of the construction company’s stock valued at $41,507,000 after buying an additional 6,402 shares during the period. Finally, Legal & General Group Plc lifted its stake in Trex by 1.9% in the third quarter. Legal & General Group Plc now owns 57,596 shares of the construction company’s stock valued at $5,187,000 after buying an additional 1,077 shares during the period. 91.05% of the stock is currently owned by institutional investors.

Trex stock traded down $3.59 during midday trading on Monday, reaching $110.10. The company’s stock had a trading volume of 182,831 shares, compared to its average volume of 177,814. Trex has a 52 week low of $61.57 and a 52 week high of $120.40. The stock has a market cap of $3,345.73, a PE ratio of 34.84 and a beta of 2.25.

Trex announced that its Board of Directors has approved a share buyback plan on Wednesday, February 21st that permits the company to buyback 2,900,000 outstanding shares. This buyback authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

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About Trex

Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.

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