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

Trex Company, Inc. (NYSE:TREX) has been assigned a consensus recommendation of “Hold” from the twenty-two analysts that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $49.20.

A number of research firms have recently issued reports on TREX. Stephens boosted their target price on Trex from $45.00 to $50.00 and gave the company an “equal weight” rating in a report on Tuesday, July 28th. Zacks Research upgraded shares of Trex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Wall Street Zen upgraded shares of Trex from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Stifel Nicolaus boosted their price objective on shares of Trex from $44.00 to $47.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Finally, Citigroup restated a “neutral” rating and set a $52.00 price objective (up from $43.00) on shares of Trex in a research report on Wednesday, July 15th.

Insider Activity

In related news, SVP Jacob T. Rudolph sold 1,400 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $50.00, for a total transaction of $70,000.00. Following the completion of the transaction, the senior vice president directly owned 36,631 shares of the company’s stock, valued at $1,831,550. This represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trex

A number of institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in shares of Trex by 3.2% during the 1st quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock worth $320,000 after buying an additional 177 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Trex by 91.3% during the first quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock worth $47,803,000 after acquiring an additional 392,715 shares during the period. Hsbc Holdings PLC grew its holdings in Trex by 6.3% during the second quarter. Hsbc Holdings PLC now owns 5,403 shares of the construction company’s stock worth $294,000 after acquiring an additional 322 shares during the period. First Trust Advisors LP raised its position in Trex by 535.1% in the second quarter. First Trust Advisors LP now owns 22,038 shares of the construction company’s stock worth $1,198,000 after acquiring an additional 18,568 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Trex in the second quarter worth $1,055,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Down 0.0%

NYSE TREX opened at $49.17 on Monday. The firm has a market cap of $5.11 billion, a P/E ratio of 29.27, a P/E/G ratio of 3.40 and a beta of 1.48. Trex has a 52-week low of $29.77 and a 52-week high of $66.06. The business’s 50-day moving average price is $45.50 and its 200 day moving average price is $41.92.

Trex (NYSE:TREX) last posted its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.01). Trex had a net margin of 14.68% and a return on equity of 18.03%. The company had revenue of $418.02 million for the quarter, compared to analysts’ expectations of $415.71 million. During the same period in the prior year, the company earned $0.71 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, analysts anticipate that Trex will post 1.76 earnings per share for the current year.

About Trex

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.