Equities Analysts Set Expectations for Trex Company Inc’s Q1 2018 Earnings (TREX)

Trex Company Inc (NYSE:TREX) – Stock analysts at Seaport Global Securities boosted their Q1 2018 earnings estimates for Trex in a research report issued to clients and investors on Thursday. Seaport Global Securities analyst M. Mccall now forecasts that the construction company will post earnings of $1.18 per share for the quarter, up from their previous estimate of $1.05. Seaport Global Securities also issued estimates for Trex’s Q2 2018 earnings at $1.33 EPS.

Trex (NYSE:TREX) last released its quarterly earnings data on Wednesday, February 21st. The construction company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. The company had revenue of $122.21 million for the quarter, compared to the consensus estimate of $118.48 million. Trex had a return on equity of 49.66% and a net margin of 16.83%. The company’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same period last year, the business posted $0.43 EPS.

Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded Trex from a “sell” rating to a “buy” rating and set a $123.00 price objective on the stock in a report on Thursday, November 2nd. B. Riley raised their price objective on Trex from $125.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus reiterated a “hold” rating and set a $110.00 target price (up from $100.00) on shares of Trex in a report on Thursday. SunTrust Banks reiterated a “hold” rating and set a $95.00 target price on shares of Trex in a report on Wednesday, November 1st. Finally, FBR & Co raised their target price on Trex from $80.00 to $96.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $102.14.

Trex (TREX) opened at $110.57 on Friday. The company has a market capitalization of $3,130.00, a PE ratio of 33.71 and a beta of 2.31. Trex has a twelve month low of $61.57 and a twelve month high of $120.40.

Trex announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 21st that allows the company to buyback 2,900,000 shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

In related news, Director Jay M. Gratz sold 1,418 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $111.05, for a total transaction of $157,468.90. Following the sale, the director now directly owns 8,901 shares in the company, valued at approximately $988,456.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jay M. Gratz sold 1,058 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $116.95, for a total value of $123,733.10. Following the sale, the director now owns 8,801 shares in the company, valued at $1,029,276.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,798 shares of company stock worth $540,778. Company insiders own 0.95% of the company’s stock.

Large investors have recently made changes to their positions in the stock. FMR LLC grew its stake in Trex by 25.6% during the 2nd quarter. FMR LLC now owns 64,060 shares of the construction company’s stock valued at $4,334,000 after purchasing an additional 13,060 shares in the last quarter. Voya Investment Management LLC grew its stake in Trex by 14.3% during the 2nd quarter. Voya Investment Management LLC now owns 13,551 shares of the construction company’s stock valued at $917,000 after purchasing an additional 1,697 shares in the last quarter. Royal Bank of Canada grew its stake in Trex by 31.7% during the 2nd quarter. Royal Bank of Canada now owns 27,143 shares of the construction company’s stock valued at $1,837,000 after purchasing an additional 6,528 shares in the last quarter. State Street Corp grew its stake in Trex by 4.7% during the 2nd quarter. State Street Corp now owns 724,301 shares of the construction company’s stock valued at $49,003,000 after purchasing an additional 32,626 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in Trex by 61.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,722 shares of the construction company’s stock valued at $319,000 after purchasing an additional 1,790 shares in the last quarter. Institutional investors and hedge funds own 90.58% of the company’s stock.

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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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