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Trex Company, Inc. (NYSE:TREX - Get Rating) - Equities researchers at Jefferies Financial Group dropped their Q3 2022 EPS estimates for shares of Trex in a research note issued on Tuesday, August 9th. Jefferies Financial Group analyst P. Ng now forecasts that the construction company will post earnings per share of $0.14 for the quarter, down from their prior estimate of $0.66. The consensus estimate for Trex's current full-year earnings is $2.47 per share. Jefferies Financial Group also issued estimates for Trex's Q4 2022 earnings at $0.20 EPS, FY2022 earnings at $1.74 EPS and FY2023 earnings at $1.81 EPS.

TREX has been the subject of a number of other research reports. Truist Financial cut their price objective on shares of Trex from $90.00 to $85.00 and set a "buy" rating for the company in a research report on Tuesday. Loop Capital lowered Trex from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $118.00 to $68.00 in a report on Monday, April 25th. Barclays cut their target price on Trex from $63.00 to $53.00 and set an "equal weight" rating for the company in a research note on Tuesday. Bank of America began coverage on shares of Trex in a research note on Monday, April 25th. They set an "underperform" rating and a $60.00 price target on the stock. Finally, Credit Suisse Group upgraded shares of Trex from an "underperform" rating to a "neutral" rating and set a $65.00 price objective for the company in a research note on Tuesday, May 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $76.53.Trex Price Performance

Shares of Trex stock opened at $57.18 on Friday. The company has a market cap of $6.47 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.26 and a beta of 1.48. The firm has a fifty day moving average price of $58.65 and a two-hundred day moving average price of $67.43. Trex has a fifty-two week low of $49.31 and a fifty-two week high of $140.98.

Trex (NYSE:TREX - Get Rating) last posted its quarterly earnings data on Monday, August 8th. The construction company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.12. Trex had a return on equity of 42.33% and a net margin of 18.94%. The company had revenue of $386.25 million during the quarter, compared to analysts' expectations of $380.22 million. During the same period in the prior year, the business earned $0.53 earnings per share. Trex's revenue for the quarter was up 24.0% compared to the same quarter last year. Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TREX. Covestor Ltd boosted its stake in Trex by 178.8% in the first quarter. Covestor Ltd now owns 382 shares of the construction company's stock worth $25,000 after purchasing an additional 245 shares in the last quarter. Spire Wealth Management acquired a new position in Trex during the 2nd quarter worth about $26,000. UMB Bank N A MO acquired a new position in Trex during the 4th quarter worth about $32,000. Parallel Advisors LLC grew its holdings in Trex by 30.4% during the 2nd quarter. Parallel Advisors LLC now owns 773 shares of the construction company's stock worth $42,000 after acquiring an additional 180 shares during the last quarter. Finally, Confluence Wealth Services Inc. acquired a new stake in Trex in the 4th quarter valued at about $46,000. 93.63% of the stock is owned by institutional investors and hedge funds. 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.Recommended StoriesGet a free copy of the StockNews.com research report on Trex (TREX)Look at Honeywell for a Steady and Diversified StockWhy Invest in High-Yield Dividend Stocks?Disney (NYSE: DIS) Shares Just Gave Investors A Massive SignalFind and Profitably Trade Stocks at 52-Week LowsSolar Stocks Shine Brightly After Passage Of Clean Energy Bill

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