Trex Company, Inc. (NYSE:TREX) Receives $81.31 Consensus PT from Brokerages

Trex Company, Inc. (NYSE:TREX) has received a consensus recommendation of “Hold” from the seventeen ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $80.38.

A number of research analysts recently weighed in on the company. Barclays reduced their target price on Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a report on Friday, July 12th. Stephens cut Trex from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $115.00 to $72.00 in a report on Wednesday, August 7th. BMO Capital Markets cut their price target on shares of Trex from $82.00 to $67.00 and set a “market perform” rating on the stock in a report on Tuesday, October 22nd. B. Riley reduced their price target on shares of Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Robert W. Baird dropped their price objective on shares of Trex from $88.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th.

Trex Stock Up 3.4 %

Shares of NYSE:TREX opened at $66.48 on Tuesday. The company has a market cap of $7.23 billion, a P/E ratio of 27.47, a P/E/G ratio of 2.45 and a beta of 1.50. The business has a fifty day simple moving average of $65.23 and a 200-day simple moving average of $75.72. Trex has a 52 week low of $54.57 and a 52 week high of $101.91.

Trex (NYSE:TREX) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Trex had a net margin of 21.07% and a return on equity of 33.53%. The company had revenue of $376.47 million during the quarter, compared to the consensus estimate of $387.87 million. During the same quarter in the prior year, the company posted $0.71 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Sell-side analysts expect that Trex will post 2.04 earnings per share for the current fiscal year.

Institutional Trading of Trex

A number of hedge funds and other institutional investors have recently made changes to their positions in TREX. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 65,428 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in Trex by 3.2% in the second quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock worth $146,288,000 after purchasing an additional 60,405 shares in the last quarter. American Century Companies Inc. increased its holdings in Trex by 7.1% in the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock valued at $136,631,000 after buying an additional 122,658 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Trex by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company’s stock valued at $90,752,000 after buying an additional 92,563 shares in the last quarter. Finally, Blair William & Co. IL grew its position in shares of Trex by 0.6% in the 2nd quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company’s stock worth $84,803,000 after acquiring an additional 6,901 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

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.