Trex Company, Inc. (NYSE:TREX) Receives $79.94 Average Price Target from Brokerages

Trex Company, Inc. (NYSE:TREX) has received an average recommendation of “Hold” from the sixteen brokerages that are currently covering the company, MarketBeat.com reports. One 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 1 year price objective among analysts that have issued a report on the stock in the last year is $79.94.

TREX has been the topic of a number of analyst reports. Jefferies Financial Group decreased their target price on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Barclays decreased their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. BMO Capital Markets raised their price target on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Finally, Robert W. Baird lifted their price target on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th.

Hedge Funds Weigh In On Trex

Several large investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC increased its position in Trex by 22.0% in the first quarter. Cetera Advisors LLC now owns 4,452 shares of the construction company’s stock worth $444,000 after buying an additional 803 shares during the period. CWM LLC increased its holdings in shares of Trex by 7.8% in the 2nd quarter. CWM LLC now owns 3,356 shares of the construction company’s stock worth $249,000 after acquiring an additional 242 shares during the period. SG Americas Securities LLC lifted its position in Trex by 242.0% in the 2nd quarter. SG Americas Securities LLC now owns 9,453 shares of the construction company’s stock valued at $701,000 after purchasing an additional 6,689 shares during the last quarter. M&G Plc boosted its stake in Trex by 18.7% during the 2nd quarter. M&G Plc now owns 14,197 shares of the construction company’s stock valued at $1,051,000 after purchasing an additional 2,233 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Trex by 69.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 27,967 shares of the construction company’s stock worth $2,073,000 after purchasing an additional 11,455 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

Trex Stock Down 1.0 %

Shares of NYSE:TREX opened at $76.86 on Wednesday. The company has a market capitalization of $8.23 billion, a P/E ratio of 35.10, a P/E/G ratio of 3.50 and a beta of 1.49. Trex has a 52-week low of $58.68 and a 52-week high of $101.91. The stock’s fifty day simple moving average is $70.78 and its 200-day simple moving average is $71.89.

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