Brokerages Set Trex Company, Inc. (NYSE:TREX) Target Price at $80.88

Trex Company, Inc. (NYSE:TREX) has earned an average rating of “Hold” from the sixteen research firms that are presently covering the company, Marketbeat reports. One research 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 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $80.88.

TREX has been the subject of a number of research reports. Bank of America lowered their price target on Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Loop Capital lowered Trex from a “buy” rating to a “hold” rating and dropped their target price for the company from $95.00 to $75.00 in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Trex from a “sell” rating to a “hold” rating in a report on Thursday, September 19th. UBS Group decreased their price objective on shares of Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Truist Financial cut their price objective on shares of Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th.

Trex Stock Performance

Shares of NYSE TREX opened at $67.89 on Friday. Trex has a fifty-two week low of $53.59 and a fifty-two week high of $101.91. The company has a market cap of $7.38 billion, a PE ratio of 29.14, a P/E/G ratio of 2.37 and a beta of 1.50. The business has a 50-day simple moving average of $68.18 and a two-hundred day simple moving average of $80.42.

Trex (NYSE:TREX) last released its earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. Trex’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the business earned $0.71 EPS. On average, sell-side analysts predict that Trex will post 2.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trex

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Trex by 0.6% in the first 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 during the last quarter. Conestoga Capital Advisors LLC boosted its stake in Trex by 3.2% during the 2nd 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 during the last quarter. American Century Companies Inc. grew its holdings in shares of Trex by 7.1% during the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock worth $136,631,000 after buying an additional 122,658 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Trex by 8.2% in 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 during the last quarter. Finally, Blair William & Co. IL lifted its stake in shares of Trex by 0.6% in the second quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company’s stock worth $84,803,000 after buying an additional 6,901 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.