Trex Company, Inc. (NYSE:TREX) Receives Average Rating of “Hold” from Brokerages

Trex Company, Inc. (NYSE:TREX) has been assigned a consensus recommendation of “Hold” from the seventeen brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $79.94.

A number of brokerages have weighed in on TREX. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. BMO Capital Markets upped their target price on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. DA Davidson boosted their target price on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Jefferies Financial Group cut their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Finally, Robert W. Baird increased their price target on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th.

Trex Stock Down 1.4 %

Shares of NYSE TREX opened at $77.03 on Wednesday. The stock has a market capitalization of $8.25 billion, a PE ratio of 35.17, a P/E/G ratio of 3.53 and a beta of 1.49. The firm has a fifty day moving average of $69.86 and a 200-day moving average of $72.13. Trex has a 52-week low of $58.68 and a 52-week high of $101.91.

Trex (NYSE:TREX) last posted its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. During the same quarter in the previous year, the business posted $0.57 EPS. The business’s quarterly revenue was down 23.1% on a year-over-year basis. Equities research analysts expect that Trex will post 2.05 EPS for the current fiscal year.

Institutional Trading of Trex

Several institutional investors have recently made changes to their positions in TREX. Wasatch Advisors LP raised its holdings in Trex by 33.2% during the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after buying an additional 1,015,516 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Trex by 6,093.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock valued at $56,834,000 after buying an additional 839,837 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Trex by 100.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after acquiring an additional 511,163 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Trex by 462.4% in the third quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock valued at $35,231,000 after acquiring an additional 435,055 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new position in Trex in the third quarter worth about $20,600,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

About Trex

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.