Trex Company, Inc. (NYSE:TREX) Receives $79.94 Consensus PT from Analysts

Trex Company, Inc. (NYSE:TREX) has been assigned an average recommendation of “Hold” from the sixteen analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $79.94.

TREX has been the topic of several analyst reports. Robert W. Baird increased their price objective on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Barclays decreased their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research note on Tuesday, October 29th. Jefferies Financial Group cut their target price on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Finally, BMO Capital Markets boosted their target price on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th.

Trex Stock Performance

Shares of TREX opened at $76.98 on Wednesday. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 3.50 and a beta of 1.49. Trex has a 52 week low of $58.68 and a 52 week high of $101.91. The business’s fifty day moving average price is $70.53 and its two-hundred day moving average price is $71.95.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. During the same period last year, the company earned $0.57 earnings per share. The company’s revenue was down 23.1% on a year-over-year basis. As a group, research analysts forecast that Trex will post 2.05 EPS for the current year.

Institutional Investors Weigh In On Trex

Several large investors have recently made changes to their positions in TREX. OFI Invest Asset Management acquired a new position in Trex in the 2nd quarter worth $726,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Trex by 69.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 27,967 shares of the construction company’s stock valued at $2,073,000 after purchasing an additional 11,455 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Trex during the second quarter worth about $19,475,000. L & S Advisors Inc bought a new position in shares of Trex during the third quarter worth about $1,000,000. Finally, Algert Global LLC raised its position in Trex by 81.3% in the 3rd quarter. Algert Global LLC now owns 86,300 shares of the construction company’s stock valued at $5,746,000 after buying an additional 38,700 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

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.