Trex (TREX) – Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Trex (NYSE: TREX) in the last few weeks:

• 7/12/2024 – Trex had its price target lowered by analysts at Barclays PLC from $94.00 to $81.00. They now have an “underweight” rating on the stock.
• 7/11/2024 – Trex had its price target lowered by analysts at Citigroup Inc. from $94.00 to $80.00. They now have a “neutral” rating on the stock.
• 7/11/2024 – Trex had its price target lowered by analysts at Loop Capital from $110.00 to $95.00. They now have a “buy” rating on the stock.
• 7/10/2024 – Trex had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $114.00 to $93.00. They now have a “buy” rating on the stock.
• 7/3/2024 – Trex had its price target lowered by analysts at DA Davidson from $89.00 to $80.00. They now have a “neutral” rating on the stock.

Trex Price Performance

Shares of Trex stock opened at $78.50 on Friday. The business has a fifty day simple moving average of $81.17 and a two-hundred day simple moving average of $87.18. Trex Company, Inc. has a 1 year low of $53.59 and a 1 year high of $101.91. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 33.69, a P/E/G ratio of 1.68 and a beta of 1.50.

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

Insider Activity at Trex

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the transaction, the senior vice president now owns 25,746 shares in the company, valued at approximately $2,340,311.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trex

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Trex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock worth $1,028,829,000 after purchasing an additional 65,428 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Trex by 19.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,102,402 shares of the construction company’s stock valued at $339,638,000 after buying an additional 660,536 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of Trex by 1.4% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,913,263 shares of the construction company’s stock worth $190,848,000 after acquiring an additional 27,135 shares during the period. TD Asset Management Inc boosted its position in shares of Trex by 516.8% during the 4th quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock worth $132,545,000 after acquiring an additional 1,341,419 shares in the last quarter. Finally, Norges Bank bought a new position in Trex in the fourth quarter valued at approximately $113,613,000. Institutional investors own 95.96% of the company’s stock.

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.