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

Shares of Trex Company, Inc. (NYSE:TREX) have been assigned an average rating of “Hold” from the sixteen ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $78.38.

Several analysts recently weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research report on Tuesday. DA Davidson reissued a “neutral” rating and issued a $74.00 price objective on shares of Trex in a research note on Tuesday. StockNews.com upgraded shares of Trex from a “sell” rating to a “hold” rating in a research report on Tuesday. Truist Financial reduced their price objective on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Citigroup dropped their target price on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th.

Trex Stock Performance

Trex stock opened at $61.71 on Monday. Trex has a 1 year low of $58.68 and a 1 year high of $100.77. The firm’s 50-day moving average is $69.13 and its 200-day moving average is $68.64. The company has a market cap of $6.61 billion, a P/E ratio of 28.18, a PEG ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. As a group, sell-side analysts predict that Trex will post 2.04 earnings per share for the current year.

Insider Activity

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the sale, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trex

A number of institutional investors have recently modified their holdings of TREX. Blue Trust Inc. grew its stake in shares of Trex by 134.6% in the 3rd quarter. Blue Trust Inc. now owns 1,769 shares of the construction company’s stock valued at $118,000 after buying an additional 1,015 shares in the last quarter. Raymond James & Associates grew its holdings in Trex by 6.0% during the third quarter. Raymond James & Associates now owns 210,145 shares of the construction company’s stock valued at $13,991,000 after purchasing an additional 11,922 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Trex by 7,363.6% in the third quarter. International Assets Investment Management LLC now owns 2,463 shares of the construction company’s stock worth $164,000 after buying an additional 2,430 shares during the last quarter. Ballentine Partners LLC raised its holdings in Trex by 15.5% in the 3rd quarter. Ballentine Partners LLC now owns 3,139 shares of the construction company’s stock worth $209,000 after acquiring an additional 422 shares during the period. Finally, State of Alaska Department of Revenue grew its position in shares of Trex by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 12,636 shares of the construction company’s stock valued at $841,000 after purchasing an additional 855 shares during the last quarter. Institutional investors and hedge funds 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.