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

Shares of Trex Company, Inc. (NYSE:TREX) have received an average recommendation of “Hold” from the sixteen ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $79.81.

Several equities analysts recently issued reports on the stock. Robert W. Baird boosted their price target on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. BMO Capital Markets upped their target price on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Citigroup lowered their target price on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday. Jefferies Financial Group reduced their price target on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Finally, DA Davidson raised their price objective on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th.

Trex Stock Performance

NYSE TREX opened at $65.92 on Friday. Trex has a fifty-two week low of $58.68 and a fifty-two week high of $101.91. The stock has a market cap of $7.06 billion, a P/E ratio of 30.10, a price-to-earnings-growth ratio of 3.50 and a beta of 1.50. The stock has a 50 day simple moving average of $72.50 and a two-hundred day simple moving average of $70.41.

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

Hedge Funds Weigh In On Trex

Hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in Trex during the 3rd quarter valued at $30,000. UMB Bank n.a. lifted its holdings in shares of Trex by 150.8% during the third 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 in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trex during the second quarter valued at $44,000. Quarry LP increased its holdings in Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after buying an additional 513 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Trex by 274.9% in the 4th quarter. GAMMA Investing LLC now owns 701 shares of the construction company’s stock worth $48,000 after buying an additional 514 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

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.