Stock Alert: Trex Co. Inc. (TREX) Shares Hit 52-Week High

(RTTNews) - Shares of Trex Company Inc. (TREX) touched a 52-week high of $109.12 today, after the company reported better-than-expected Q4 profit. The stock has been trading between $57.55 and $109.12 in the past one year.

The company, on Feb. 24, reported Q4 net income of $35 million or $0.61 per share, representing increases of 41% and 42%, respectively, from net income of $25 million or $0.43 per share, reported for last year's fourth quarter.

Analysts polled by Thomson Reuters expected earnings of $0.51 per share for the quarter. Analysts' estimate typically exclude certain special items.

Consolidated net sales for the fourth quarter of 2019 were $165 million, 18% ahead of the comparable period in 2018.

James Cline, President and Chief Executive Officer, said, "Fourth quarter results were in line with our expectations for strong double-digit sales growth and sequential gross margin expansion. Our brand leadership and strong demand for our product line-up resulted in positive comparisons with the similar period in 2018 when sales benefitted from a very strong early buy season..."

For the first quarter of fiscal 2020, the company expects revenue of about $200 million, 11% ahead of 2019 levels.