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

Shares of Trex Company, Inc. (NYSE:TREX) have earned a consensus recommendation of “Hold” from the sixteen research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $80.88.

TREX has been the subject of several research analyst reports. Stephens lowered shares of Trex from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $115.00 to $72.00 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price objective on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Bank of America cut their target price on Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. UBS Group lowered their price target on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Loop Capital lowered Trex from a “buy” rating to a “hold” rating and cut their price objective for the company from $95.00 to $75.00 in a report on Wednesday, August 7th.

Institutional Investors Weigh In On Trex

A number of hedge funds and other institutional investors have recently made changes to their positions in TREX. Eagle Asset Management Inc. boosted its holdings in Trex by 0.3% during the fourth quarter. Eagle Asset Management Inc. now owns 46,660 shares of the construction company’s stock worth $3,863,000 after buying an additional 119 shares in the last quarter. Covestor Ltd grew its position in shares of Trex by 11.3% during the 1st quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock valued at $121,000 after acquiring an additional 123 shares during the period. Harrington Investments INC increased its stake in shares of Trex by 1.4% in the 2nd quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock valued at $727,000 after purchasing an additional 140 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in Trex by 4.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 3,950 shares of the construction company’s stock worth $394,000 after purchasing an additional 173 shares during the period. Finally, First Citizens Bank & Trust Co. boosted its position in Trex by 2.6% during the second quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company’s stock worth $523,000 after purchasing an additional 176 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Trading Up 1.0 %

Shares of TREX stock opened at $68.12 on Friday. The company has a market cap of $7.40 billion, a PE ratio of 29.24, a PEG ratio of 2.31 and a beta of 1.50. Trex has a 12-month low of $53.59 and a 12-month high of $101.91. The business’s fifty day simple moving average is $67.25 and its 200-day simple moving average is $79.86.

Trex (NYSE:TREX) last announced its earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. On average, equities analysts forecast that Trex will post 2.03 earnings per share for the current year.

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.