Trex (NYSE:TREX) Issues Quarterly Earnings Results
Trex (NYSE:TREX) posted its earnings results on Sunday. The construction company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01, MarketWatch Earnings reports. Trex had a net margin of 20.53% and a return on equity of 35.52%. The firm had revenue of $228.29 million during the quarter, compared to analysts’ expectations of $215.99 million. During the same period last year, the company posted $0.31 EPS. The company’s quarterly revenue was up 38.5% compared to the same quarter last year.
Shares of TREX stock traded down $9.03 during trading hours on Tuesday, reaching $91.16. The company had a trading volume of 2,244,024 shares, compared to its average volume of 765,253. The business has a fifty day moving average price of $96.23 and a 200-day moving average price of $81.02. Trex has a one year low of $28.11 and a one year high of $107.64. The firm has a market cap of $10.56 billion, a PE ratio of 62.58 and a beta of 1.46.
Several equities research analysts have recently commented on TREX shares. Barclays raised their target price on shares of Trex from $82.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Tuesday. DA Davidson raised their target price on shares of Trex from $75.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday. Truist raised their target price on shares of Trex from $73.00 to $100.00 in a research report on Tuesday. BMO Capital Markets started coverage on shares of Trex in a research report on Wednesday, January 13th. They issued a “market perform” rating and a $90.00 target price for the company. Finally, Zacks Investment Research cut shares of Trex from a “buy” rating to a “hold” rating in a research report on Wednesday, January 27th. Thirteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Trex presently has a consensus rating of “Hold” and an average target price of $80.78.
Trex Company, Inc manufactures and distributes wood and plastic composite products, and related accessories for residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Select, and Trex Enhance protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.
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