Trex Company, Inc. (NYSE:TREX – Get Rating) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $56.30, but opened at $61.00. Trex shares last traded at $61.67, with a volume of 1,041,117 shares changing hands.
The construction company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. Trex had a net margin of 16.69% and a return on equity of 32.97%. The firm had revenue of $239.00 million for the quarter, compared to the consensus estimate of $237.65 million. During the same period last year, the firm posted $0.62 earnings per share. The company’s revenue for the quarter was down 29.5% on a year-over-year basis.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on TREX shares. Robert W. Baird increased their price objective on shares of Trex from $58.00 to $62.00 in a research note on Tuesday. UBS Group lifted their price target on shares of Trex from $56.00 to $59.00 in a research report on Tuesday. B. Riley dropped their price objective on shares of Trex from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, February 28th. BMO Capital Markets lifted their price target on shares of Trex from $58.00 to $62.00 in a research note on Tuesday. Finally, DA Davidson boosted their target price on shares of Trex from $48.00 to $58.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.00.
Hedge Funds Weigh In On Trex
Trex Trading Up 8.2 %
The firm’s 50-day moving average is $50.79 and its two-hundred day moving average is $48.87. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 37.36, a P/E/G ratio of 7.41 and a beta of 1.49.
Trex Company Profile
Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.
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