Trex Company, Inc. (NYSE:TREX) Given Consensus Rating of “Hold” by Brokerages

Shares of Trex Company, Inc. (NYSE:TREX) have been assigned an average recommendation of “Hold” from the eighteen analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $89.47.

A number of research firms have recently weighed in on TREX. Truist Financial raised their price target on shares of Trex from $70.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Barclays raised their price target on shares of Trex from $93.00 to $94.00 and gave the stock an “underweight” rating in a research report on Friday, May 10th. Robert W. Baird decreased their price target on shares of Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Benchmark reissued a “buy” rating and set a $105.00 price target on shares of Trex in a research report on Tuesday, May 14th. Finally, UBS Group raised their price target on shares of Trex from $84.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th.

Trex Stock Up 0.5 %

TREX opened at $84.16 on Wednesday. The firm has a market capitalization of $9.15 billion, a P/E ratio of 36.12, a P/E/G ratio of 1.86 and a beta of 1.56. The firm’s 50 day moving average is $87.78 and its 200-day moving average is $87.45. Trex has a 52-week low of $53.59 and a 52-week high of $101.91.

Trex (NYSE:TREX) last posted its quarterly earnings data on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. Trex had a net margin of 20.60% and a return on equity of 35.33%. The company had revenue of $373.64 million for the quarter, compared to analyst estimates of $367.31 million. During the same quarter last year, the firm posted $0.38 earnings per share. The business’s quarterly revenue was up 56.5% on a year-over-year basis. Equities analysts expect that Trex will post 2.26 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Jacob T. Rudolph sold 16,440 shares of Trex stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the sale, the senior vice president now directly owns 25,746 shares in the company, valued at $2,340,311.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Trex

Hedge funds and other institutional investors have recently modified their holdings of the stock. Redwood Investments LLC bought a new stake in Trex in the fourth quarter worth about $2,271,000. Broad Bay Capital Management LP raised its position in Trex by 3.8% in the fourth quarter. Broad Bay Capital Management LP now owns 415,000 shares of the construction company’s stock worth $34,358,000 after acquiring an additional 15,000 shares in the last quarter. WCM Investment Management LLC raised its position in Trex by 9.4% in the fourth quarter. WCM Investment Management LLC now owns 251,159 shares of the construction company’s stock worth $21,027,000 after acquiring an additional 21,486 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Trex by 8.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,152,445 shares of the construction company’s stock worth $95,415,000 after acquiring an additional 90,025 shares in the last quarter. Finally, Cim LLC bought a new stake in Trex in the fourth quarter worth about $1,258,000. 95.96% of the stock is currently owned by institutional investors.

Trex Company Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, 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.