TREX Stock Recent News
TREX LATEST HEADLINES
The building materials stock soared after its last earnings release, but macro data has been rough since then. Building activity seems to be slowing thanks to high interest rates and consumer weakness.
Trex (TREX) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
Trex CEO Bryan Fairbanks says customers are really focusing on building up heir outdoor spaces, so much so, he says the company sees a $13.7 billion opportunity over the next five years. When it comes to why the company issued a five-year forecast, Fairbanks tells Yahoo Finance Live the company wants to "ensure that our investors understand the bigger part of the story is ahead of us.
The consumer still wants her deck.
As summer winds down, business activity is picking up in the construction sector, which was beaten down for much of the year. The possibility for attractive growth in the upcoming quarter commands attention.
On July 31, the maker of eco-friendly composite decking and outdoor products reported earnings of 71 cents per share, down 10% from a year ago, but topping views, which called for net income of 54 cents a share, as you can see on MarketBeat's Trex earnings page.
Trex beat on the top and bottom lines, benefitting from its work to cut costs and improve efficiency. The company's guidance for the third quarter is higher than what investors had expected.
Trex Co Inc ( TREX , Financial), a leading player in the construction industry, is currently trading at $74.99 with a market cap of $8.16 billion. The company's stock price has seen a gain of 8.46% today and a significant increase of 14.28% over the past four weeks.
Trex (TREX) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.79 per share a year ago.
TREX introduces Trex Select T-Rail, a composite railing system reflecting competitive pricing, high performance and low maintenance.