Trex Company, Inc. (NYSE:TREX) Given Average Recommendation of “Hold” by Analysts

Shares of Trex Company, Inc. (NYSE:TREX) have been assigned an average rating of “Hold” from the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $78.38.

A number of research firms have recently issued reports on TREX. Citigroup lowered their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. StockNews.com upgraded shares of Trex from a “sell” rating to a “hold” rating in a research note on Tuesday. Bank of America dropped their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday. DA Davidson reiterated a “neutral” rating and set a $74.00 target price on shares of Trex in a research report on Tuesday. Finally, UBS Group dropped their price target on shares of Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday.

Insiders Place Their Bets

In other news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now directly owns 1,705 shares in the company, valued at $105,505.40. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Trex

Several hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its stake in shares of Trex by 54.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock valued at $746,858,000 after acquiring an additional 3,818,025 shares during the last quarter. Wasatch Advisors LP increased its stake in Trex by 12.8% in the fourth quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company’s stock valued at $317,505,000 after purchasing an additional 523,113 shares in the last quarter. State Street Corp raised its holdings in Trex by 1.2% in the third quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after purchasing an additional 37,436 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Trex by 463.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company’s stock worth $216,400,000 after purchasing an additional 2,578,734 shares in the last quarter. Finally, Bamco Inc. NY grew its holdings in shares of Trex by 6.2% in the 4th quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company’s stock valued at $148,631,000 after buying an additional 126,441 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Trading Up 2.3 %

Shares of TREX stock opened at $61.71 on Monday. The firm has a market capitalization of $6.61 billion, a P/E ratio of 28.18, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. Trex has a 1 year low of $58.68 and a 1 year high of $100.77. The firm’s fifty day simple moving average is $69.13 and its 200 day simple moving average is $68.64.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. Equities research analysts anticipate that Trex will post 2.04 EPS for the current fiscal year.

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.