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

Shares of Trex Company, Inc. (NYSE:TREX) have been assigned a consensus rating of “Hold” from the sixteen analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $79.81.

Several equities research analysts recently weighed in on the stock. Barclays reduced their price objective on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. Citigroup decreased their price objective on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, January 6th. DA Davidson boosted their target price on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Jefferies Financial Group decreased their price target on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Finally, BMO Capital Markets boosted their price objective on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th.

Trex Trading Down 1.8 %

TREX opened at $64.71 on Friday. The business’s 50 day moving average is $72.28 and its 200-day moving average is $70.25. The stock has a market cap of $6.93 billion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 3.50 and a beta of 1.50. Trex has a twelve month low of $58.68 and a twelve month high of $101.91.

Trex (NYSE:TREX) last posted its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $233.72 million for the quarter, compared to analysts’ expectations of $225.42 million. During the same period last year, the firm earned $0.57 EPS. The firm’s revenue was down 23.1% compared to the same quarter last year. As a group, analysts forecast that Trex will post 2.05 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Trex in the 3rd quarter valued at approximately $30,000. UMB Bank n.a. raised its stake in Trex by 150.8% during the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after purchasing an additional 392 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trex in the second quarter valued at $44,000. Quarry LP boosted its position in shares of Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after buying an additional 513 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Trex by 274.9% during the fourth quarter. GAMMA Investing LLC now owns 701 shares of the construction company’s stock valued at $48,000 after buying an additional 514 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.