Brokerages Set Trex Company, Inc. (NYSE:TREX) PT at $89.47

Shares of Trex Company, Inc. (NYSE:TREX) have received an average rating of “Hold” from the eighteen analysts that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $89.47.

TREX has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating and issued a $105.00 price target on shares of Trex in a report on Tuesday, May 14th. Robert W. Baird cut their price target on Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Truist Financial lifted their price target on Trex from $70.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Stifel Nicolaus raised their price objective on Trex from $90.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. raised their price objective on Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st.

Insiders Place Their Bets

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of Trex stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the completion of the transaction, the senior vice president now owns 25,746 shares in the company, valued at approximately $2,340,311.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trex

Institutional investors and hedge funds have recently modified their holdings of the business. Redwood Investments LLC purchased a new position in shares of Trex in the 4th quarter valued at about $2,271,000. Broad Bay Capital Management LP increased its stake in shares of Trex by 3.8% in the 4th quarter. Broad Bay Capital Management LP now owns 415,000 shares of the construction company’s stock valued at $34,358,000 after purchasing an additional 15,000 shares in the last quarter. WCM Investment Management LLC increased its stake in shares of Trex by 9.4% in the 4th quarter. WCM Investment Management LLC now owns 251,159 shares of the construction company’s stock valued at $21,027,000 after purchasing an additional 21,486 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Trex by 8.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,152,445 shares of the construction company’s stock worth $95,415,000 after buying an additional 90,025 shares in the last quarter. Finally, Cim LLC purchased a new stake in Trex during the 4th quarter worth approximately $1,258,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Down 7.2 %

TREX opened at $77.99 on Wednesday. The stock’s fifty day moving average is $87.17 and its two-hundred day moving average is $87.45. The company has a market capitalization of $8.48 billion, a P/E ratio of 33.47, a PEG ratio of 1.85 and a beta of 1.56. Trex has a 52 week low of $53.59 and a 52 week high of $101.91.

Trex (NYSE:TREX) last announced its quarterly earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. Trex had a return on equity of 35.33% and a net margin of 20.60%. The business had revenue of $373.64 million for the quarter, compared to the consensus estimate of $367.31 million. During the same period last year, the business posted $0.38 EPS. The business’s revenue was up 56.5% compared to the same quarter last year. Equities analysts anticipate that Trex will post 2.26 earnings per share for the current year.

Trex Company Profile

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.