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

Trex Company, Inc. (NYSE:TREX) has been given an average rating of “Hold” by the seventeen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $88.76.

A number of research analysts recently commented on TREX shares. Citigroup lowered their price target on shares of Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Loop Capital dropped their target price on Trex from $110.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Robert W. Baird decreased their price target on Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Barclays dropped their price objective on shares of Trex from $94.00 to $81.00 and set an “underweight” rating for the company in a research note on Friday, July 12th. Finally, DA Davidson reduced their target price on shares of Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd.

Trex Price Performance

NYSE:TREX opened at $81.15 on Friday. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 1.78 and a beta of 1.50. Trex has a 1 year low of $53.59 and a 1 year high of $101.91. The stock’s 50 day simple moving average is $81.78 and its two-hundred day simple moving average is $87.13.

Trex (NYSE:TREX) last released its quarterly earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. Trex had a net margin of 20.60% and a return on equity of 35.33%. The company had revenue of $373.64 million for the quarter, compared to the consensus estimate of $367.31 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Trex’s revenue was up 56.5% on a year-over-year basis. As a group, analysts anticipate that Trex will post 2.26 EPS for the current year.

Insider Buying and Selling

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the transaction, the senior vice president now owns 25,746 shares of the company’s stock, valued at approximately $2,340,311.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TREX. Eagle Asset Management Inc. boosted its position in Trex by 0.3% during the fourth quarter. Eagle Asset Management Inc. now owns 46,660 shares of the construction company’s stock valued at $3,863,000 after purchasing an additional 119 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Trex by 11.3% in the 1st quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock valued at $121,000 after buying an additional 123 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Trex by 16.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 863 shares of the construction company’s stock worth $71,000 after buying an additional 124 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Trex by 8.3% during the 1st quarter. Fifth Third Bancorp now owns 1,683 shares of the construction company’s stock worth $168,000 after acquiring an additional 129 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in Trex by 6.9% during the fourth quarter. First Horizon Advisors Inc. now owns 2,144 shares of the construction company’s stock valued at $178,000 after acquiring an additional 138 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other 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.