Trex (NYSE:TREX) Price Target Raised to $50.00 at Stephens

Trex (NYSE:TREX) had its price objective increased by research analysts at Stephens from $45.00 to $50.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the construction company’s stock. Stephens’ target price suggests a potential upside of 13.71% from the stock’s previous close.

Several other equities analysts also recently issued reports on TREX. Zacks Research upgraded shares of Trex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $51.00 target price (up from $41.00) on shares of Trex in a research note on Tuesday, July 14th. Weiss Ratings raised shares of Trex from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. DA Davidson reissued a “buy” rating and set a $55.00 target price on shares of Trex in a research report on Tuesday, July 14th. Finally, UBS Group restated a “buy” rating and set a $61.00 price target (up from $59.00) on shares of Trex in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Trex has a consensus rating of “Hold” and an average target price of $49.05.

Trex Price Performance

Shares of TREX stock opened at $43.97 on Tuesday. Trex has a 1-year low of $29.77 and a 1-year high of $68.78. The stock’s fifty day moving average price is $44.40 and its 200 day moving average price is $41.65. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 4.99 and a beta of 1.46.

Trex (NYSE:TREX) last announced its earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.08. Trex had a return on equity of 19.66% and a net margin of 16.25%.The company had revenue of $343.40 million for the quarter, compared to analyst estimates of $339.99 million. During the same period in the prior year, the company posted $0.60 EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Trex will post 1.78 earnings per share for the current year.

Insider Buying and Selling at Trex

In other news, SVP Jacob T. Rudolph sold 1,400 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $50.00, for a total value of $70,000.00. Following the transaction, the senior vice president directly owned 36,631 shares of the company’s stock, valued at approximately $1,831,550. This represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Trex

A number of institutional investors and hedge funds have recently modified their holdings of TREX. Allspring Global Investments Holdings LLC purchased a new position in Trex during the 4th quarter worth approximately $4,748,000. M&T Bank Corp purchased a new stake in shares of Trex in the 4th quarter valued at $917,000. CWM LLC boosted its holdings in shares of Trex by 182.0% in the 4th quarter. CWM LLC now owns 85,995 shares of the construction company’s stock valued at $3,017,000 after acquiring an additional 55,495 shares during the last quarter. Osborne Partners Capital Management LLC acquired a new stake in shares of Trex in the fourth quarter worth $5,256,000. Finally, State of New Jersey Common Pension Fund D increased its stake in shares of Trex by 76.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 69,509 shares of the construction company’s stock worth $2,438,000 after acquiring an additional 30,191 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

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.