• Thu. May 19th, 2022

B. Riley Equities analysts cut earnings estimates for Trex Company, Inc. (NYSE:TREX)

ByLinda W. Smith

May 11, 2022

Trex Company, Inc. (NYSE:TREX – Get Rating) – Investment analysts B. Riley cut their Q2 2022 earnings per share estimates for Trex shares in a research note released to investors on Tuesday, May 10 . B. Riley analyst A. Rygiel now expects the construction company to post earnings of $0.69 per share for the quarter, down from its previous estimate of $0.70. B. Riley has a “Buy” rating and a price target of $88.00 on the stock. B. Riley also released estimates of Trex Q3 2022 earnings at $0.64 EPS, Q4 2022 earnings at $0.58 EPS, and fiscal year 2023 earnings at $2.86 EPS.

Trex (NYSE:TREX – Get Rating) last released quarterly earnings data on Monday, May 9. The construction company reported earnings per share (EPS) of $0.62 for the quarter, beating consensus analyst estimates of $0.54 by $0.08. Trex had a net margin of 17.41% and a return on equity of 36.80%. The company posted revenue of $339.23 million for the quarter, versus a consensus estimate of $326.67 million. During the same period last year, the company earned earnings per share of $0.42. The company’s revenue increased by 38.2% compared to the same quarter last year.

A number of other analysts have also recently weighed in on TREX. Zacks Investment Research downgraded Trex shares from a “hold” rating to a “sell” rating in a research report on Tuesday. Stifel Nicolaus lowered his price target on Trex from $135.00 to $120.00 and set a “buy” rating for the company in a Tuesday, March 1 research report. Credit Suisse Group upgraded Trex from an “underperforming” rating to a “neutral” rating in a report released on Tuesday. Berenberg Bank reaffirmed a “buy” rating and set a target price of $102.00 on Trex shares in a Friday, March 18 report. Finally, Exane BNP Paribas downgraded Trex from a “neutral” rating to an “underperforming” rating and set a price target of $81.00 for the company. in a report on Monday, March 28. Five analysts gave the stock a sell rating, nine gave the company a hold rating and five gave the company a buy rating. According to MarketBeat, Trex has an average rating of “Hold” and a consensus target price of $94.17.

TREX stock opened at $58.63 on Wednesday. The stock has a market capitalization of $6.70 billion, a P/E ratio of 32.39, a growth price/earnings ratio of 1.36 and a beta of 1.44. Trex has a 12-month low of $51.76 and a 12-month high of $140.98. The company has a 50-day moving average price of $66.69 and a 200-day moving average price of $97.09.

Institutional investors and hedge funds have recently increased or reduced their stake in the company. NN Investment Partners Holdings NV bought a new position in shares of Trex in Q4 worth $26,000. UMB Bank NA MO bought a new position in shares of Trex in Q4 worth $32,000. M&R Capital Management Inc. bought a new position in shares of Trex in Q4 worth $41,000. Tobam ​​bought a new position in Trex stock in Q4 worth $41,000. Finally, Confluence Wealth Services Inc. bought a new Trex stock position in Q4 worth $46,000. 93.63% of the shares are held by hedge funds and other institutional investors.

About Trex (Get a rating)

Trex Company, Inc. manufactures and distributes decking, railing, and outdoor living products and accessories for the residential and commercial markets in the United States. The Company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the Trex Transcend, Trex Select, and Trex Enhance names for protection against fading, stains, mildew, and scratches; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a dimmable LED deck light for use on posts, floors and steps.

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