Trex Company, Inc. (NYSE:TREX) Given Average Recommendation of “Hold” by Analysts

Shares of Trex Company, Inc. (NYSE:TREX) have been assigned a consensus rating of “Hold” from the sixteen analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $78.63.

A number of equities analysts have recently issued reports on TREX shares. Citigroup cut their price objective on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. UBS Group cut their price target on Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. DA Davidson restated a “neutral” rating and set a $74.00 price objective on shares of Trex in a report on Tuesday, February 25th. Truist Financial cut their target price on Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th.

Insider Activity

In other news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the transaction, the director now directly owns 1,705 shares of the company’s stock, valued at $105,505.40. This represents a 45.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Trex

Several institutional investors and hedge funds have recently bought and sold shares of TREX. Alliancebernstein L.P. grew its stake in shares of Trex by 54.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock worth $746,858,000 after acquiring an additional 3,818,025 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Trex by 463.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company’s stock worth $216,400,000 after purchasing an additional 2,578,734 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Trex in the fourth quarter valued at approximately $110,414,000. Anomaly Capital Management LP lifted its stake in shares of Trex by 228.2% during the 4th quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company’s stock valued at $104,427,000 after buying an additional 1,051,888 shares in the last quarter. Finally, Wasatch Advisors LP boosted its holdings in Trex by 33.2% in the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after buying an additional 1,015,516 shares during the period. 95.96% of the stock is owned by institutional investors.

Trex Stock Performance

Shares of TREX opened at $59.88 on Friday. The firm has a market cap of $6.42 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60. Trex has a 52-week low of $52.75 and a 52-week high of $100.77. The business’s 50 day moving average price is $65.58 and its two-hundred day moving average price is $67.98.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. The company had revenue of $167.63 million during the quarter, compared to analyst estimates of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Research analysts predict that Trex will post 2.04 EPS for the current fiscal year.

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.