It could rival or surpass other recent Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year. This is a timely investment that you can catch while it emerges from its bear market lows. It’s credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It trades with a forward P/E of 39.1.īut for those investors who believe that the consumer will continue to spend on their home, Trex is one to keep on your short list.įrom thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. On a P/E basis, Trex is not a "cheap" stock. In the second quarter, Trex repurchased 264,896 shares for $16 million. Trex saw an opportunity while its shares were lower. But on a 2-year stack, it's still down 40%. Shares of Trex are up 59% year-to-date as the consumer has kept spending and the US has avoided a recession. Trex was a huge pandemic winner as its shares soared.īut in 2022, the stock sold off along with the other growth stocks, only to rally again in 2023. This is still 2.2% below last year's earnings of $1.80, however.īut looking forward, the analysts are even more bullish on 2024 as the Zacks Consensus has jumped to $2.11, which is earnings growth of 19.7%.Īs we stayed home during the pandemic, what did we do? We put on new decks. 9 estimates were revised higher in the last 2 months which pushed the Zacks Consensus up to $1.76 from $1.61. The analysts are also bullish on earnings as well. The analysts are more bullish, however, as the Zacks Consensus is calling for $1.08 billion, above the company's guidance range. It's still rebounding from last year's inventory build. This is below last year's revenue of $1.11 billion.
It expects revenues to range from $1.04 billion to $1.06 billion.
#TREX STOCK IMAGE FULL#
Trex has improving visibility so it was finally able to provide full year 2023 revenue guidance. It is designed to compete with PVC vinyl railing. The company also launched Trex Select T-Rail system, a value priced composite railing that rounds out its portfolio at the entry level. Trex saw mid-single digit growth in the channel sell through as consumer demand remained resilient. It saw margin expansion, however, with gross margin of 43.9% compared to 40.7% a year ago. Revenue was $357 million, which was down 5% from last year's revenue of $386 million as the channel was building inventory. Trex has only missed twice in the last 5 years. It was the third consecutive earnings beat in a row. On July 31, 2023, Trex reported its second quarter results and easily blew by the Zacks Consensus, reporting earnings of $0.71 versus the Zacks Consensus of $0.54. Its products are stocked in more than 6,700 retail locations worldwide, including at Home Depot and Lowe's.Ī Big Earnings Beat in the Second Quarter Trex is a manufacturer of high-performance, low maintenance and eco-friendly wood-alternative decking and railing.
This Zacks Rank #1 (Strong Buy) has beat on earnings 3 quarters in a row. Trex Company TREX is seeing resilient consumer demand in 2023.
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