Trex Company, Inc. (NYSE:TREX – Get Rating) – Research analysts at William Blair lifted their FY2022 earnings per share (EPS) estimates for Trex in a research note issued on Tuesday, May 10th. William Blair analyst R. Merkel now expects that the construction company will post earnings of $2.44 per share for the year, up from their previous forecast of $2.37. William Blair also issued estimates for Trex’s FY2023 earnings at $2.92 EPS.
Trex (NYSE:TREX – Get Rating) last posted its earnings results on Monday, May 9th. The construction company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $339.23 million for the quarter, compared to analysts’ expectations of $326.67 million. Trex had a net margin of 17.41% and a return on equity of 36.80%. The company’s revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share.
NYSE TREX opened at $56.05 on Thursday. The firm’s fifty day moving average price is $66.28 and its two-hundred day moving average price is $96.81. The stock has a market cap of $6.41 billion, a PE ratio of 30.97, a PEG ratio of 1.36 and a beta of 1.44. Trex has a fifty-two week low of $51.76 and a fifty-two week high of $140.98.
A number of hedge funds have recently added to or reduced their stakes in TREX. National Asset Management Inc. raised its holdings in shares of Trex by 3.3% during the third quarter. National Asset Management Inc. now owns 3,118 shares of the construction company’s stock valued at $318,000 after purchasing an additional 100 shares during the period. Rockefeller Capital Management L.P. raised its holdings in shares of Trex by 28.8% during the third quarter. Rockefeller Capital Management L.P. now owns 479 shares of the construction company’s stock valued at $48,000 after purchasing an additional 107 shares during the period. Cetera Investment Advisers raised its holdings in shares of Trex by 2.9% during the fourth quarter. Cetera Investment Advisers now owns 4,539 shares of the construction company’s stock valued at $613,000 after purchasing an additional 130 shares during the period. Allworth Financial LP raised its holdings in shares of Trex by 17.0% during the fourth quarter. Allworth Financial LP now owns 936 shares of the construction company’s stock valued at $126,000 after purchasing an additional 136 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in shares of Trex by 0.9% during the fourth quarter. Pacer Advisors Inc. now owns 16,332 shares of the construction company’s stock valued at $2,205,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.
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.
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