Trex Company, Inc. (NYSE:TREX) Receives Average Recommendation of “Hold” from Brokerages

Trex Company, Inc. (NYSE:TREX) has been assigned a consensus rating of “Hold” from the seventeen brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $81.31.

Several equities analysts recently issued reports on TREX shares. Stifel Nicolaus lowered their price objective on Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their target price on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. StockNews.com upgraded shares of Trex from a “sell” rating to a “hold” rating in a research note on Thursday, September 19th. Truist Financial reduced their price target on shares of Trex from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, B. Riley decreased their price objective on shares of Trex from $107.00 to $97.00 and set a “buy” rating for the company in a report on Wednesday, August 7th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TREX. Vanguard Group Inc. increased its stake in shares of Trex by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock worth $1,028,829,000 after purchasing an additional 65,428 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in Trex by 3.2% during the second quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock valued at $146,288,000 after purchasing an additional 60,405 shares during the period. American Century Companies Inc. increased its position 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 worth $136,631,000 after buying an additional 122,658 shares in the last quarter. Dimensional Fund Advisors LP raised its stake 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 worth $90,752,000 after buying an additional 92,563 shares during the period. Finally, Blair William & Co. IL lifted its position in shares of Trex by 0.6% during the 2nd quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company’s stock valued at $84,803,000 after buying an additional 6,901 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Price Performance

Shares of NYSE TREX opened at $62.98 on Tuesday. Trex has a 1 year low of $54.09 and a 1 year high of $101.91. The firm has a 50-day moving average of $65.07 and a 200 day moving average of $76.81. The stock has a market cap of $6.85 billion, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 2.19 and a beta of 1.50.

Trex (NYSE:TREX) last released its earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $376.47 million for the quarter, compared to the consensus estimate of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 earnings per share. Research analysts expect that Trex will post 2.04 earnings per share 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.