Trex (TREX) is in a potential buy area with its next quarterly earnings report due on May 10.
The composite-decking supplier stock is trading near the top of the buy zone, at around a 107.74 entry point from a fourth-stage cup without handle. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.
Understand that buying just before a stock reports is risky. You don’t know how the stock will report and how the market will react, and you don’t have enough time to build a profit cushion. You can reduce your exposure by waiting to see the actual numbers and the market’s reaction.
Earnings grew 19% last quarter, up from 14% in the prior report. Revenue also increased, from 19% to 39%.
Consensus analyst estimates call for EPS growth of 2% for the quarter, and 21% growth for the full year. Earnings estimates for the full year were recently revised upward.
Trex stock has a 97 Composite Rating and holds the No. 3 rank among its peers in the Building-Construction Products/Miscellaneous industry group. Atkore (ATKR) is the top-ranked stock within the group.
Note: Dates for earnings reports are subject to change. Check the company’s website for any updates.
YOU MIGHT ALSO LIKE: