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

Shares of Trex Company, Inc. (NYSE:TREX) have earned an average recommendation of “Hold” from the sixteen brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $79.81.

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

Hedge Funds Weigh In On Trex

Several large investors have recently modified their holdings of TREX. Wilmington Savings Fund Society FSB purchased a new stake in Trex in the third quarter worth approximately $30,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Trex in the second quarter worth about $44,000. Quarry LP lifted its position in shares of Trex by 576.4% during the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after buying an additional 513 shares in the last quarter. UMB Bank n.a. increased its holdings in Trex by 150.8% in the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after acquiring an additional 392 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Trex by 274.9% during the 4th quarter. GAMMA Investing LLC now owns 701 shares of the construction company’s stock worth $48,000 after acquiring an additional 514 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Performance

Shares of Trex stock opened at $66.62 on Friday. The stock has a market capitalization of $7.14 billion, a P/E ratio of 30.42, a P/E/G ratio of 3.50 and a beta of 1.50. Trex has a 52-week low of $58.68 and a 52-week high of $101.91. The stock’s 50-day simple moving average is $72.59 and its 200 day simple moving average is $70.44.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $233.72 million for the quarter, compared to analysts’ expectations of $225.42 million. During the same period in the prior year, the company posted $0.57 EPS. Trex’s revenue was down 23.1% compared to the same quarter last year. Equities research analysts forecast that Trex will post 2.05 EPS for the current fiscal 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.