Trex Company, Inc. (NYSE:TREX) Receives $78.63 Consensus Price Target from Analysts

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 research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $78.63.

Several equities analysts have weighed in on TREX shares. Truist Financial cut their price target on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Bank of America cut their target price on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Jefferies Financial Group decreased their price target on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research note on Tuesday, February 25th. Benchmark reiterated a “buy” rating and set a $80.00 price objective on shares of Trex in a research report on Monday, March 3rd. Finally, DA Davidson restated a “neutral” rating and issued a $74.00 target price on shares of Trex in a report on Tuesday, February 25th.

Insider Buying and Selling

In related news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now owns 1,705 shares of the company’s stock, valued at $105,505.40. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trex

A number of hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Trex during the 3rd quarter worth $30,000. Mather Group LLC. lifted its stake in Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after acquiring an additional 191 shares during the period. Avior Wealth Management LLC grew its holdings in Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after acquiring an additional 473 shares in the last quarter. Huntington National Bank increased its position in Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company’s stock valued at $39,000 after purchasing an additional 393 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Trex in the 4th quarter worth approximately $41,000. 95.96% of the stock is currently owned by institutional investors.

Trex Stock Performance

TREX stock opened at $62.05 on Friday. The company’s fifty day moving average price is $65.27 and its 200-day moving average price is $68.05. Trex has a one year low of $52.75 and a one year high of $100.61. The company has a market capitalization of $6.65 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. The business had revenue of $167.63 million for the quarter, compared to analysts’ expectations of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. On average, research analysts predict that Trex will post 2.04 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.