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

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

Several analysts have recently weighed in on TREX shares. Bank of America dropped their price target on shares of Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Loop Capital cut shares of Trex from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $95.00 to $75.00 in a research report on Wednesday, August 7th. UBS Group lowered their price objective on shares of Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Stifel Nicolaus reduced their target price on shares of Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Robert W. Baird lifted their price objective on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Trex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock valued at $1,028,829,000 after buying an additional 65,428 shares during the period. Wasatch Advisors LP increased its position in shares of Trex by 33.2% in the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after acquiring an additional 1,015,516 shares in the last quarter. State Street Corp boosted its holdings in shares of Trex by 1.2% during the third quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after purchasing an additional 37,436 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in shares of Trex by 3.2% during the second quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock worth $146,288,000 after purchasing an additional 60,405 shares during the period. Finally, American Century Companies Inc. lifted its stake in Trex by 7.1% in the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock valued at $136,631,000 after acquiring an additional 122,658 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

Trex Stock Performance

Shares of Trex stock opened at $68.22 on Friday. The firm has a 50-day simple moving average of $67.39 and a two-hundred day simple moving average of $74.18. The company has a market cap of $7.31 billion, a P/E ratio of 31.15, a price-to-earnings-growth ratio of 3.30 and a beta of 1.49. Trex has a fifty-two week low of $58.68 and a fifty-two week high of $101.91.

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

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.