Trex Company, Inc. (NYSE:TREX) Stock Has Consensus Price Target of $50.19 According to Brokerages

Trex Company, Inc. (NYSE:TREX) has been assigned an average rating of “Hold” from the twenty-three analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $50.48.

A number of research analysts have issued reports on the company. Wall Street Zen raised Trex from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Zacks Research downgraded Trex from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. Truist Financial raised their price target on Trex from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. UBS Group reaffirmed a “buy” rating and set a $61.00 price target (up from $59.00) on shares of Trex in a research report on Tuesday, July 14th. Finally, DA Davidson reiterated a “buy” rating and set a $55.00 price objective on shares of Trex in a report on Tuesday, July 14th.

Insider Transactions at Trex

In other Trex news, SVP Amy M. Fernandez sold 1,050 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $50.07, for a total transaction of $52,573.50. Following the sale, the senior vice president directly owned 67,794 shares in the company, valued at approximately $3,394,445.58. This trade represents a 1.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Trex

Several institutional investors have recently added to or reduced their stakes in TREX. Versant Capital Management Inc bought a new stake in shares of Trex in the second quarter valued at about $58,000. Ascentis Independent Advisors bought a new position in Trex during the first quarter worth about $44,000. Elevation Wealth Partners LLC boosted its stake in shares of Trex by 250.7% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,224 shares of the construction company’s stock worth $53,000 after acquiring an additional 875 shares during the period. GAMMA Investing LLC increased its holdings in shares of Trex by 104.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,269 shares of the construction company’s stock worth $55,000 after acquiring an additional 649 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in Trex by 76.0% in the 2nd quarter. IFP Advisors Inc now owns 1,584 shares of the construction company’s stock valued at $79,000 after acquiring an additional 684 shares during the period. 95.96% of the stock is owned by institutional investors.

Trex Stock Up 1.7%

Shares of NYSE TREX opened at $46.49 on Friday. Trex has a twelve month low of $29.77 and a twelve month high of $51.75. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 2.65 and a beta of 1.48. The company’s fifty day moving average is $45.35 and its 200-day moving average is $43.74.

Trex (NYSE:TREX) last released its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). The firm had revenue of $418.02 million during the quarter, compared to the consensus estimate of $415.71 million. Trex had a net margin of 14.68% and a return on equity of 18.03%. Trex’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. On average, research analysts anticipate that Trex will post 1.77 EPS for the current fiscal year.

Trex Company Profile

Trex Company, Inc is a manufacturer of composite decking and outdoor living products. Its offerings are designed as alternatives to traditional wood and include residential and commercial decking, railing systems, outdoor lighting, and related accessories.

The company’s products are marketed under the Trex brand and include decking lines such as Trex Transcend, Trex Select, and Trex Enhance. Trex composite products are made primarily from recycled wood fibers and recycled polyethylene plastics, supporting the company’s focus on low-maintenance and environmentally oriented outdoor building materials.

Founded in 1996 and headquartered in Winchester, Virginia, Trex serves customers through a network of distributors, dealers, retailers, contractors, and building professionals.