Stifel Nicolaus Issues Positive Forecast for Trex (NYSE:TREX) Stock Price

Trex (NYSE:TREX) had its price target hoisted by equities researchers at Stifel Nicolaus from $44.00 to $47.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the construction company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 2.49% from the stock’s previous close.

Several other research analysts also recently issued reports on TREX. DA Davidson reiterated a “buy” rating and issued a $51.00 target price on shares of Trex in a research note on Friday, June 5th. Zelman & Associates upgraded shares of Trex from a “neutral” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Monday, May 18th. Weiss Ratings upgraded Trex from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. UBS Group reissued a “buy” rating and issued a $59.00 target price (up from $58.00) on shares of Trex in a research report on Friday, May 8th. Finally, Citigroup reaffirmed a “neutral” rating and set a $43.00 price target (down from $46.00) on shares of Trex in a report on Monday, May 11th. Ten analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Trex presently has a consensus rating of “Hold” and a consensus target price of $47.84.

Trex Trading Down 2.8%

NYSE TREX opened at $45.86 on Tuesday. Trex has a 12 month low of $29.77 and a 12 month high of $68.78. The stock has a market cap of $4.76 billion, a P/E ratio of 25.62, a P/E/G ratio of 9.58 and a beta of 1.46. The stock’s fifty day moving average price is $43.41 and its 200-day moving average price is $41.09.

Trex (NYSE:TREX) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $343.40 million during the quarter, compared to analyst estimates of $339.99 million. During the same quarter in the previous year, the firm earned $0.60 EPS. Trex’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, analysts forecast that Trex will post 1.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in shares of Trex during the 4th quarter valued at approximately $27,000. Clearstead Trust LLC bought a new stake in Trex during the 4th quarter worth approximately $33,000. Ascentis Independent Advisors purchased a new position in Trex during the first quarter valued at approximately $44,000. Eurizon Capital SGR S.p.A. purchased a new position in Trex during the fourth quarter valued at approximately $47,000. Finally, Empowered Funds LLC bought a new position in shares of Trex in the fourth quarter worth approximately $50,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Company Profile

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.