Trex Company, Inc. (NYSE:TREX) Receives $79.81 Average Target Price from Brokerages

Trex Company, Inc. (NYSE:TREX) has been given a consensus rating of “Hold” by the sixteen ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $79.81.

A number of equities research analysts recently commented on TREX shares. Citigroup dropped their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, January 6th. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Robert W. Baird lifted their price objective on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. DA Davidson boosted 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. Finally, BMO Capital Markets upped their price objective on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th.

Trex Stock Performance

Shares of Trex stock opened at $72.80 on Thursday. The firm has a fifty day moving average of $72.59 and a two-hundred day moving average of $69.93. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 3.05 and a beta of 1.50. Trex has a 52 week low of $58.68 and a 52 week high of $101.91.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TREX. Principal Securities Inc. boosted its stake in shares of Trex by 5.0% in the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock valued at $213,000 after purchasing an additional 147 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Trex by 0.9% during the 4th quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock worth $1,102,000 after purchasing an additional 148 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Trex by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company’s stock worth $230,000 after acquiring an additional 175 shares during the period. First Horizon Advisors Inc. increased its stake in Trex by 8.8% in the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock valued at $152,000 after purchasing an additional 184 shares in the last quarter. Finally, Mather Group LLC. raised its holdings in Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after buying an additional 191 shares during the last quarter. 95.96% of the stock is owned by 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.