FY2022 EPS Estimates for Trex Company, Inc. Boosted by DA Davidson (NYSE:TREX)

Trex Company, Inc. (NYSE:TREXGet Rating) – Investment analysts at DA Davidson increased their FY2022 EPS estimates for Trex in a research note issued to investors on Tuesday, May 10th. DA Davidson analyst K. Yinger now expects that the construction company will post earnings per share of $2.48 for the year, up from their previous estimate of $2.39. DA Davidson currently has a “Neutral” rating on the stock.

Trex (NYSE:TREXGet Rating) last announced its earnings results on Monday, May 9th. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Trex had a net margin of 17.41% and a return on equity of 36.80%. The firm had revenue of $339.23 million for the quarter, compared to analyst estimates of $326.67 million. During the same quarter last year, the business earned $0.42 earnings per share. Trex’s revenue was up 38.2% compared to the same quarter last year.

TREX has been the topic of a number of other research reports. Zelman & Associates began coverage on shares of Trex in a research report on Monday, March 14th. They set a “hold” rating on the stock. Stifel Nicolaus decreased their target price on shares of Trex from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, March 1st. Berenberg Bank restated a “buy” rating and set a $102.00 target price on shares of Trex in a research report on Friday, March 18th. Credit Suisse Group upgraded shares of Trex from an “underperform” rating to a “neutral” rating and set a $65.00 price target on the stock in a report on Tuesday. Finally, StockNews.com began coverage on shares of Trex in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Trex has an average rating of “Hold” and an average target price of $94.17.

Shares of NYSE TREX opened at $56.05 on Thursday. Trex has a 1 year low of $51.76 and a 1 year high of $140.98. The firm’s 50 day moving average price is $66.28 and its 200 day moving average price is $96.81. The firm has a market cap of $6.41 billion, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 1.36 and a beta of 1.44.

Institutional investors have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. lifted its holdings in Trex by 50.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 337,153 shares of the construction company’s stock worth $20,742,000 after buying an additional 113,161 shares in the last quarter. Morgan Stanley lifted its holdings in Trex by 49.5% in the 2nd quarter. Morgan Stanley now owns 414,757 shares of the construction company’s stock worth $42,393,000 after buying an additional 137,260 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Trex by 3.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 12,465 shares of the construction company’s stock worth $1,270,000 after buying an additional 414 shares in the last quarter. Truist Financial Corp lifted its holdings in Trex by 2.1% in the 3rd quarter. Truist Financial Corp now owns 10,457 shares of the construction company’s stock worth $1,067,000 after buying an additional 215 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Trex by 0.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 67,293 shares of the construction company’s stock worth $6,857,000 after buying an additional 337 shares in the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

About Trex (Get Rating)

Trex Company, Inc manufactures and distributes decking, railing, and outdoor living products and accessories for 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 names Trex Transcend, Trex Select, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.

Further Reading

Earnings History and Estimates for Trex (NYSE:TREX)

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