Q2 2019 EPS Estimates for Trex Company Inc (NYSE:TREX) Reduced by Analyst

Trex Company Inc (NYSE:TREX) – Stock analysts at Seaport Global Securities decreased their Q2 2019 EPS estimates for Trex in a research report issued to clients and investors on Tuesday, April 30th, according to Zacks Investment Research. Seaport Global Securities analyst M. Mccall now anticipates that the construction company will earn $0.63 per share for the quarter, down from their previous forecast of $0.88.

Trex (NYSE:TREX) last posted its earnings results on Monday, April 29th. The construction company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.05). The firm had revenue of $179.57 million during the quarter, compared to analyst estimates of $176.75 million. Trex had a net margin of 18.63% and a return on equity of 40.07%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS.

Several other analysts have also weighed in on the company. Zacks Investment Research raised Trex from a “sell” rating to a “hold” rating in a report on Wednesday. SunTrust Banks lowered their target price on Trex to $63.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. They noted that the move was a valuation call. Sidoti raised Trex from a “neutral” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Friday, March 29th. B. Riley reissued a “buy” rating and issued a $80.00 target price (up previously from $71.00) on shares of Trex in a report on Friday, February 15th. Finally, Berenberg Bank reissued a “buy” rating and issued a $89.00 target price on shares of Trex in a report on Wednesday, February 27th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Trex currently has an average rating of “Hold” and a consensus price target of $75.13.

Trex stock traded down $2.23 during trading hours on Thursday, hitting $58.79. The stock had a trading volume of 971,975 shares, compared to its average volume of 865,114. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 2.55 and a beta of 1.98. Trex has a 1-year low of $50.88 and a 1-year high of $90.74.

A number of large investors have recently modified their holdings of TREX. Morgan Stanley boosted its stake in Trex by 486.8% in the 1st quarter. Morgan Stanley now owns 1,489,349 shares of the construction company’s stock worth $91,625,000 after buying an additional 1,235,537 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Trex by 69.1% in the 1st quarter. William Blair Investment Management LLC now owns 2,864,456 shares of the construction company’s stock worth $176,221,000 after buying an additional 1,170,545 shares during the last quarter. Norges Bank purchased a new position in shares of Trex in the 4th quarter worth about $35,599,000. Westfield Capital Management Co. LP purchased a new position in shares of Trex in the 4th quarter worth about $22,639,000. Finally, Millennium Management LLC purchased a new position in shares of Trex in the 4th quarter worth about $13,502,000. 94.35% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider James E. Cline sold 13,495 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $77.95, for a total transaction of $1,051,935.25. Following the sale, the insider now owns 82,391 shares of the company’s stock, valued at $6,422,378.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP William R. Gupp sold 4,563 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $68.69, for a total value of $313,432.47. Following the sale, the senior vice president now directly owns 63,945 shares in the company, valued at approximately $4,392,382.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,344 shares of company stock worth $2,514,523. Corporate insiders own 0.93% of the company’s stock.

About Trex

Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

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