Trex (TREX) to Release Quarterly Earnings on Monday

Trex (NYSE:TREXGet Rating) will be posting its quarterly earnings results after the market closes on Monday, August 8th. Analysts expect Trex to post earnings of $0.68 per share for the quarter. Trex has set its Q2 2022 guidance at EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Trex (NYSE:TREXGet Rating) last announced its quarterly 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 17.90% and a return on equity of 38.31%. The business had revenue of $339.23 million for the quarter, compared to analyst estimates of $326.67 million. During the same quarter last year, the firm earned $0.42 EPS. The company’s revenue was up 38.2% on a year-over-year basis. On average, analysts expect Trex to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Trex Trading Up 2.6 %

NYSE:TREX opened at $64.61 on Friday. The company has a 50-day moving average price of $59.13 and a 200-day moving average price of $68.47. Trex has a 12 month low of $49.31 and a 12 month high of $140.98. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 32.14, a P/E/G ratio of 1.48 and a beta of 1.48.

Institutional Investors Weigh In On Trex

A number of hedge funds have recently bought and sold shares of TREX. Covestor Ltd raised its stake in Trex by 178.8% during the first quarter. Covestor Ltd now owns 382 shares of the construction company’s stock valued at $25,000 after purchasing an additional 245 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Trex during the first quarter valued at $67,000. Canada Pension Plan Investment Board raised its stake in Trex by 442.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,601 shares of the construction company’s stock valued at $105,000 after purchasing an additional 1,306 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in Trex during the first quarter valued at $204,000. Finally, XTX Topco Ltd purchased a new stake in Trex during the first quarter valued at $205,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

TREX has been the subject of a number of recent research reports. Credit Suisse Group raised shares of Trex from an “underperform” rating to a “neutral” rating and set a $65.00 price target for the company in a research report on Tuesday, May 10th. Loop Capital lowered shares of Trex from a “buy” rating to a “hold” rating and cut their target price for the company from $118.00 to $68.00 in a research report on Monday, April 25th. JPMorgan Chase & Co. cut their target price on shares of Trex from $66.00 to $54.00 in a research report on Friday, July 15th. Truist Financial lowered their price target on shares of Trex from $120.00 to $90.00 in a report on Tuesday, May 10th. Finally, Bank of America initiated coverage on shares of Trex in a report on Monday, April 25th. They set an “underperform” rating and a $60.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $87.94.

About Trex

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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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Earnings History for Trex (NYSE:TREX)

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