Trex Company, Inc. (NYSE:TREX – Get Rating) – Research analysts William Blair dropped their fourth-quarter 2022 EPS estimates for Trex shares in a research report released Thursday, June 23. William Blair analyst R. Merkel now expects the construction company to post earnings per share of $0.55 for the quarter, down from its previous forecast of $0.56. The consensus estimate of Trex’s current annual earnings is $2.48 per share. Trex (NYSE:TREX – Get Rating) last released its quarterly results on Monday, May 9. The construction company reported earnings per share (EPS) of $0.62 for the quarter, beating the consensus estimate of $0.54 by $0.08. The company posted revenue of $339.23 million in the quarter, versus a consensus estimate of $326.67 million. Trex had a return on equity of 38.31% and a net margin of 17.90%. The company’s revenue increased 38.2% year over year. In the same quarter a year earlier, the company posted EPS of $0.42.
Other research analysts have also recently published research reports on the stock. StockNews.com began covering Trex shares in a research note on Thursday, March 31. They issued a “hold” rating for the company. Truist Financial lowered its price target on Trex from $120.00 to $90.00 in a Tuesday, May 10 report. JPMorgan Chase & Co. lowered its price target on Trex from $78.00 to $69.00 and set an “underweight” rating for the company in a Wednesday, April 20 report. Barclays lowered its price target on Trex from $84.00 to $68.00 in a Tuesday, May 10 report. Finally, Loop Capital downgraded Trex from a “buy” rating to a “hold” rating and lowered its price target for the company from $118.00 to $68.00 in a Monday, April 25 report. Two analysts rated the stock with a sell rating, eleven issued a hold rating and four assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $89.12.
NYSE:TREX opened at $56.73 on Friday. The stock has a fifty-day simple moving average of $59.85 and a 200-day simple moving average of $83.19. Trex has a 52-week low of $49.31 and a 52-week high of $140.98. The company has a market capitalization of $6.42 billion, a PE ratio of 28.22, a growth price-earnings ratio of 1.22 and a beta of 1.44.
A number of institutional investors and hedge funds have recently changed their holdings of TREX. LPL Financial LLC increased its stake in Trex shares by 16.3% in the fourth quarter. LPL Financial LLC now owns 179,428 shares of the construction company worth $24,228,000 after buying an additional 25,086 shares last quarter. Oppenheimer Asset Management Inc. increased its stake in Trex by 6.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 32,650 shares of the construction company worth $4,408,000 after acquiring an additional 1,860 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Trex by 3.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,827 shares of the construction company worth $922,000 after acquiring 210 additional shares during the period. Retirement Systems of Alabama increased its holdings in Trex by 0.9% during the fourth quarter. Retirement Systems of Alabama now owns 150,743 shares of the construction company worth $20,355,000 after acquiring 1,393 additional shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Trex during the fourth quarter worth approximately $239,000. Hedge funds and other institutional investors own 93.63% of the company’s shares.
Trex Company Profile (Get an assessment)
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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