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

Trex Company, Inc. (NYSE:TREX) has been given a consensus rating of “Hold” by the twenty-two research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $49.20.

Several equities research analysts have issued reports on TREX shares. Bank of America boosted their price objective on shares of Trex from $42.00 to $44.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 14th. UBS Group reissued a “buy” rating and issued a $61.00 target price (up from $59.00) on shares of Trex in a research note on Tuesday, July 14th. BMO Capital Markets set a $57.00 price target on Trex in a report on Wednesday. Wall Street Zen raised Trex from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Zacks Research raised Trex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th.

Insider Activity

In related news, SVP Jacob T. Rudolph sold 1,400 shares of the firm’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 sale, the senior vice president directly owned 36,631 shares in the company, valued at approximately $1,831,550. This trade represents a 3.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.93% of the company’s stock.

Institutional Trading of Trex

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

Trex Price Performance

Shares of NYSE:TREX opened at $49.17 on Monday. The business has a 50-day moving average of $45.50 and a two-hundred day moving average of $41.94. The firm has a market capitalization of $5.11 billion, a PE ratio of 29.27, a P/E/G ratio of 3.31 and a beta of 1.48. Trex has a 12 month low of $29.77 and a 12 month high of $66.06.

Trex (NYSE:TREX) last released its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.62 earnings per share 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 firm had revenue of $418.02 million during the quarter, compared to analyst estimates of $415.71 million. During the same period in the prior year, the firm earned $0.71 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that Trex will post 1.78 earnings per share for the current year.

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.