Here's Why Trex Company Inc's Stock Is Surging Today
Shares of Trex Company (NYSE: TREX) surged more than 25% by 10:45 a.m. EDT on Tuesday after posting another quarter of record revenue and earnings. Overall, the company's third-quarter results beat expectations on both the top and bottom lines thanks to strong demand and improving margins.
Trex reported that sales jumped 32% to $140 million, which beat the consensus estimate of analysts by nearly $15 million. Driving that increase was a 23% improvement in residential product sales, which rose to $131 million thanks to strong demand as the company continues to take share from the traditional wood market. Meanwhile, the recent acquisition of SC Company, which closed during the third quarter, added $9 million of sales in the company's newly formed commercial products segment.
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Source: Fool.com
Trex Co. Inc. Stock
With 0 Sell predictions and 1 Buy predictions the community sentiment towards the Trex Co. Inc. stock is not clear.
As a result the target price of 100 € shows a positive potential of 33.98% compared to the current price of 74.64 € for Trex Co. Inc..
