Trex Analysts Raise Their Forecasts Following Better-Than-Expected Q4 Results
Portfolio Pulse from Avi Kapoor
Trex Company, Inc. (NYSE:TREX) exceeded Q4 earnings and sales expectations, reporting adjusted earnings of 20 cents per share and quarterly sales of $195.75 million. The company forecasts FY24 net sales between $1.215 billion and $1.235 billion, significantly above estimates. Following the report, Trex shares dropped by 2.1%. Analysts from Truist Securities, Stifel, DA Davidson, and UBS have raised their price targets on Trex, maintaining Buy and Neutral ratings.
February 27, 2024 | 6:19 pm
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Trex Company, Inc. reported better-than-expected Q4 results and provided strong FY24 sales guidance, leading to raised price targets by analysts despite a 2.1% drop in shares.
The positive earnings report and raised guidance for FY24 indicate strong demand and operational efficiency, which are bullish signals for the stock. Analysts' raised price targets further validate the positive outlook. The short-term drop in share price may be due to market volatility or profit-taking, but the overall fundamentals suggest a positive short-term impact.
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IMPORTANCE 90
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