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

Trex Company, Inc. (NYSE:TREX) has received an average recommendation of “Hold” from the eighteen research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $89.47.

Several research firms have recently weighed in on TREX. Stifel Nicolaus boosted their price objective on shares of Trex from $90.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. UBS Group lifted their target price on shares of Trex from $84.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Robert W. Baird reduced their target price on shares of Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, May 10th. DA Davidson lifted their target price on shares of Trex from $80.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Finally, The Goldman Sachs Group lifted their target price on shares of Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th.

Insider Activity

In related news, SVP Jacob T. Rudolph sold 16,440 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 25,746 shares in the company, valued at approximately $2,340,311.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Trex

A number of institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new position in Trex in the 4th quarter valued at approximately $25,000. Mather Group LLC. acquired a new position in Trex in the 1st quarter valued at approximately $26,000. Loomis Sayles & Co. L P acquired a new position in Trex in the 3rd quarter valued at approximately $27,000. Contravisory Investment Management Inc. acquired a new position in Trex in the 4th quarter valued at approximately $28,000. Finally, Headinvest LLC acquired a new position in Trex in the 3rd quarter valued at approximately $29,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Trading Down 7.2 %

Shares of TREX stock opened at $78.01 on Wednesday. Trex has a 1 year low of $53.59 and a 1 year high of $101.91. The firm’s fifty day moving average price is $87.17 and its two-hundred day moving average price is $87.66. The firm has a market capitalization of $8.48 billion, a P/E ratio of 33.48, a PEG ratio of 1.84 and a beta of 1.56.

Trex (NYSE:TREX) last issued its quarterly earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.10. Trex had a net margin of 20.60% and a return on equity of 35.33%. The firm had revenue of $373.64 million for the quarter, compared to analyst estimates of $367.31 million. During the same period in the previous year, the business earned $0.38 EPS. The company’s revenue was up 56.5% compared to the same quarter last year. As a group, equities research analysts forecast that Trex will post 2.26 EPS for the current fiscal 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.