Over a week ago
Recommendations
Loop Capital analyst…
Loop Capital analyst Jeffrey Stevenson raised the firm's price target on Trex Company to $55 from $52 but keeps a Hold rating on the shares. The company's Q4 results produced a "modest" beat against reduced expectations, with the management also having announced that channel destocking concluded by the end of the quarter, the analyst tells investors in a research note. The firm added that while dealers and distributors are hesitant to meaningfully build inventories ahead of the Spring selling season due to increased manufacturer capacity and macroeconomic uncertainties, leading demand indicators for Trex remain at or above last year's levels.
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02/27/23 Trex Company sees FY23 EBITDA margin of 26%-27% 12/30/22 Trex sells Commerical Products business to Sightline Commercial Solutions 02/28/23 B. Riley Trex Company price target lowered to $62 from $65 at B. Riley 02/28/23 Baird Trex Company price target raised to $58 from $52 at Baird 02/28/23 Barclays Trex Company price target raised to $53 from $51 at Barclays 02/06/23 B. Riley Trex Company price target raised to $65 from $58 at B. Riley 02/27/23 Trex Company sees Q1 revenue $230M-$240M, consensus $242.5M 02/27/23 Trex Company reports Q4 adjusted EPS 23c, consensus 21c 10/31/22 Trex Company sees Q4 revenue $180M-$190M, consensus $185.86M 10/31/22 Trex Company reports Q3 EPS 14c, consensus 14c 02/27/23 Fly Intel: After-Hours Movers 11/01/22 What You Missed On Wall Street On Tuesday 11/01/22 What You Missed On Wall Street This Morning 11/01/22 Fly Intel: Pre-market Movers
Recommendations
B. Riley analyst Alex…
B. Riley analyst Alex Rygiel lowered the firm's price target on Trex Company to $62 from $65 and keeps a Buy rating on the shares. The company's Q4 results were modestly ahead of estimates on steady demand and with inventory in the Pro channel now recalibrated to more appropriate levels, 2023 financials will be more indicative of true demand, the analyst tells investors in a research note. The firm believes Trex's leadership has a track record of success and, despite some demand uncertainty, thinks the company is well positioned to be a winner when the market turns more favorable.
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02/27/23 Trex Company sees FY23 EBITDA margin of 26%-27% 12/30/22 Trex sells Commerical Products business to Sightline Commercial Solutions 02/28/23 Baird Trex Company price target raised to $58 from $52 at Baird 02/28/23 Barclays Trex Company price target raised to $53 from $51 at Barclays 02/06/23 B. Riley Trex Company price target raised to $65 from $58 at B. Riley 01/30/23 Loop Capital Trex Company price target raised to $52 from $50 at Loop Capital 02/27/23 Trex Company sees Q1 revenue $230M-$240M, consensus $242.5M 02/27/23 Trex Company reports Q4 adjusted EPS 23c, consensus 21c 10/31/22 Trex Company sees Q4 revenue $180M-$190M, consensus $185.86M 10/31/22 Trex Company reports Q3 EPS 14c, consensus 14c 02/27/23 Fly Intel: After-Hours Movers 11/01/22 What You Missed On Wall Street On Tuesday 11/01/22 What You Missed On Wall Street This Morning 11/01/22 Fly Intel: Pre-market Movers
Recommendations
Baird analyst Timothy…
Baird analyst Timothy Wojs raised the firm's price target on Trex Company to $58 from $52 and keeps a Neutral rating on the shares. The analyst said Q4 results were slightly above expectations, while 2023 assumptions are little changed and market commentary also was consistent with peers/expectations.
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02/27/23 Trex Company sees FY23 EBITDA margin of 26%-27% 12/30/22 Trex sells Commerical Products business to Sightline Commercial Solutions 02/28/23 Barclays Trex Company price target raised to $53 from $51 at Barclays 02/06/23 B. Riley Trex Company price target raised to $65 from $58 at B. Riley 01/30/23 Loop Capital Trex Company price target raised to $52 from $50 at Loop Capital 01/10/23 Deutsche Bank Trex Company price target lowered to $70 from $75 at Deutsche Bank 02/27/23 Trex Company sees Q1 revenue $230M-$240M, consensus $242.5M 02/27/23 Trex Company reports Q4 adjusted EPS 23c, consensus 21c 10/31/22 Trex Company sees Q4 revenue $180M-$190M, consensus $185.86M 10/31/22 Trex Company reports Q3 EPS 14c, consensus 14c 02/27/23 Fly Intel: After-Hours Movers 11/01/22 What You Missed On Wall Street On Tuesday 11/01/22 What You Missed On Wall Street This Morning 11/01/22 Fly Intel: Pre-market Movers
Recommendations
Barclays analyst Matthew…
Barclays analyst Matthew Bouley raised the firm's price target on Trex Company to $53 from $51 and keeps an Equal Weight rating on the shares. The analyst thinks Trex's reiteration of production targets was no surprise to investors, "with some modest relief" on the trajectory of gross margins." The company's commentary regarding its production to $1B leaves room to either leverage its existing capacity to service higher than expected demand or modestly flex its manufacturing to match demand in a softer sell-through environment, the analyst tells investors in a research note.
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02/27/23 Trex Company sees FY23 EBITDA margin of 26%-27% 12/30/22 Trex sells Commerical Products business to Sightline Commercial Solutions 02/06/23 B. Riley Trex Company price target raised to $65 from $58 at B. Riley 01/30/23 Loop Capital Trex Company price target raised to $52 from $50 at Loop Capital 01/10/23 Deutsche Bank Trex Company price target lowered to $70 from $75 at Deutsche Bank 01/10/23 Deutsche Bank Deutsche shuffles ratings in repair and remodel sector, upgrades Pool 02/27/23 Trex Company sees Q1 revenue $230M-$240M, consensus $242.5M 02/27/23 Trex Company reports Q4 adjusted EPS 23c, consensus 21c 10/31/22 Trex Company sees Q4 revenue $180M-$190M, consensus $185.86M 10/31/22 Trex Company reports Q3 EPS 14c, consensus 14c 02/27/23 Fly Intel: After-Hours Movers 11/01/22 What You Missed On Wall Street On Tuesday 11/01/22 What You Missed On Wall Street This Morning 11/01/22 Fly Intel: Pre-market Movers
On The Fly
Check out this evening's…
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Riley Trex Company price target raised to $65 from $58 at B. 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Riley B. 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Hers Health options imply 13.1% move in share price post-earnings 10/05/22 Clarus call volume above normal and directionally bullish
Hot Stocks
The company states:…
The company states: "With channel inventory recalibration completed by year-end 2022, we began 2023 strategically focused on our residential business, where we intend to drive accelerated wood conversion, reinforce our market leadership position, and continue to educate customers on the many advantages of the full range of Trex sustainable, high-performance, low-maintenance outdoor living products. To support these initiatives, we will continue to invest in the Trex brand and commercialize new products that broaden our market opportunity. Innovation remains a key competitive advantage for Trex. We recently announced the regional launch of our premium Trex Signature(R) decking product, which raises the bar for beauty, performance and sustainability with a whole new level of realism for wood plastic composite decking and is complemented by the full range of Trex Signature railing. We also doubled the number of color options available for our recently launched Trex Transcend(R) Lineage(TM) product line, which incorporates heat-mitigating technology. In addition, we introduced a tiered warranty structure for Trex decking that underscores the value of our good/better/best decking lineup. Our line-up for 2023 offers products at every price point designed to resonate with consumers seeking to optimize their outdoor living experience...We expect full year 2023 EBITDA margin to be in the 26% to 27% range. In the first two months of the 2023 first quarter, our plants were building to an annual revenue rate of one billion dollars. However, if demand is different than expected, we have the ability to quickly flex our production level. Capital expenditures for 2023 are anticipated to be in the $130 million to $140 million range, primarily related to the modular build out of our Arkansas facility calibrated to demand trends."
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12/30/22 Trex sells Commerical Products business to Sightline Commercial Solutions 02/06/23 B. Riley Trex Company price target raised to $65 from $58 at B. Riley 01/30/23 Loop Capital Trex Company price target raised to $52 from $50 at Loop Capital 01/10/23 Deutsche Bank Trex Company price target lowered to $70 from $75 at Deutsche Bank 01/10/23 Deutsche Bank Deutsche shuffles ratings in repair and remodel sector, upgrades Pool 02/27/23 Trex Company sees Q1 revenue $230M-$240M, consensus $242.5M 02/27/23 Trex Company reports Q4 adjusted EPS 23c, consensus 21c 10/31/22 Trex Company sees Q4 revenue $180M-$190M, consensus $185.86M 10/31/22 Trex Company reports Q3 EPS 14c, consensus 14c 11/01/22 What You Missed On Wall Street On Tuesday 11/01/22 What You Missed On Wall Street This Morning 11/01/22 Fly Intel: Pre-market Movers 10/31/22 Fly Intel: After-Hours Movers
Earnings
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12/30/22 Trex sells Commerical Products business to Sightline Commercial Solutions 02/06/23 B. Riley Trex Company price target raised to $65 from $58 at B. Riley 01/30/23 Loop Capital Trex Company price target raised to $52 from $50 at Loop Capital 01/10/23 Deutsche Bank Trex Company price target lowered to $70 from $75 at Deutsche Bank 01/10/23 Deutsche Bank Deutsche shuffles ratings in repair and remodel sector, upgrades Pool 02/27/23 Trex Company reports Q4 adjusted EPS 23c, consensus 21c 10/31/22 Trex Company sees Q4 revenue $180M-$190M, consensus $185.86M 10/31/22 Trex Company reports Q3 EPS 14c, consensus 14c 11/01/22 What You Missed On Wall Street On Tuesday 11/01/22 What You Missed On Wall Street This Morning 11/01/22 Fly Intel: Pre-market Movers 10/31/22 Fly Intel: After-Hours Movers
Earnings
Reports Q4 revenue…
Reports Q4 revenue $192.1M, consensus $185.3M. "Our fourth quarter operating results exceeded our expectations, driven by a strong sequential recovery in both gross margin and adjusted EBITDA margin amid channel inventory recalibration," said Bryan Fairbanks, CEO. "Our underlying consumer demand remained steady, reflecting the strength of the Trex brand, our comprehensive product line designed for today's living spaces and lifestyles, and the resilience of the outdoor living category. With long-standing relationships with best-in-class channel partners, Trex is the most widely available and purchased composite brand in North America and around the world. In recent months, we expanded our distribution network in Texas, Oklahoma and other southern states enabling us to better service many of the fastest growing markets in the U.S. Driving the sequential margin improvement was the full quarter benefit from the measures we took early in the third quarter to better align our cost structure with demand by decreasing production levels, right sizing our employee base, and focusing on cost efficiency programs. Further improvements are expected as we move through 2023 with the ongoing implementation of continuous improvement programs that will provide margin expansion opportunities. On December 30, 2022, we completed the sale of the Trex Commercial Products subsidiary and reportable segment. The divestiture reflects our decision to focus on driving the most profitable growth strategy for the Company and its shareholders through the execution of our outdoor living strategy. With the sale complete, we will dedicate all our resources to accelerating conversion to composites from wood and further strengthening our industry leadership position."
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12/30/22 Trex sells Commerical Products business to Sightline Commercial Solutions 02/06/23 B. Riley Trex Company price target raised to $65 from $58 at B. Riley 01/30/23 Loop Capital Trex Company price target raised to $52 from $50 at Loop Capital 01/10/23 Deutsche Bank Trex Company price target lowered to $70 from $75 at Deutsche Bank 01/10/23 Deutsche Bank Deutsche shuffles ratings in repair and remodel sector, upgrades Pool 10/31/22 Trex Company sees Q4 revenue $180M-$190M, consensus $185.86M 10/31/22 Trex Company reports Q3 EPS 14c, consensus 14c 11/01/22 What You Missed On Wall Street On Tuesday 11/01/22 What You Missed On Wall Street This Morning 11/01/22 Fly Intel: Pre-market Movers 10/31/22 Fly Intel: After-Hours Movers
Recommendations
Baird raised the…
Baird raised the firm's price target on Masonite to $110 from $108 and keeps an Outperform rating on the shares. The analyst said Q4 results were mixed and while the company is incorporating meaningful volume weakness into its guide, margins are expected to remain stable year-over-year, reflecting cost savings, modest material deflation, and synergy realization.
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01/03/23 Masonite completes acquisition of Endura Products 12/29/22 Masonite to incur $15M-$20M costs as part of restructuring plan 11/03/22 Masonite unit to acquire Endura Products for $375M in cash 09/20/22 Masonite announces EUR 5M investment in Circular Innovation Fund 01/13/23 RBC Capital Masonite downgraded to Sector Perform from Outperform at RBC Capital 01/10/23 Deutsche Bank Masonite price target raised to $112 from $90 at Deutsche Bank 01/10/23 Deutsche Bank Deutsche Bank upgrades TopBuild, Installed Building on increased conviction 12/30/22 Wedbush Wedbush reiterates Outperform rating on Masonite after restructuring news 02/22/23 Masonite sees FY23 adjusted EPS $7.25-$8.25, consensus $9.35 02/22/23 Masonite reports Q4 adjusted EPS $1.72, consensus $1.83 11/07/22 Masonite reports Q3 adjusted EPS $2.53, consensus $2.49
Earnings
Sees FY23 revenue growth…
Sees FY23 revenue growth (5%)-0%, consensus $2.88B.
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01/03/23 Masonite completes acquisition of Endura Products 12/29/22 Masonite to incur $15M-$20M costs as part of restructuring plan 11/03/22 Masonite unit to acquire Endura Products for $375M in cash 09/20/22 Masonite announces EUR 5M investment in Circular Innovation Fund 01/13/23 RBC Capital Masonite downgraded to Sector Perform from Outperform at RBC Capital 01/10/23 Deutsche Bank Masonite price target raised to $112 from $90 at Deutsche Bank 01/10/23 Deutsche Bank Deutsche Bank upgrades TopBuild, Installed Building on increased conviction 12/30/22 Wedbush Wedbush reiterates Outperform rating on Masonite after restructuring news 02/22/23 Masonite reports Q4 adjusted EPS $1.72, consensus $1.83 11/07/22 Masonite reports Q3 adjusted EPS $2.53, consensus $2.49
