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

Shares of Trex Company, Inc. (NYSE:TREX) have been assigned an average recommendation of “Hold” from the seventeen analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $79.94.

A number of research firms recently commented on TREX. DA Davidson upped their price objective on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. BMO Capital Markets upped their target price on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Jefferies Financial Group decreased their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Barclays cut their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Finally, StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th.

Trex Stock Performance

Shares of TREX opened at $77.03 on Wednesday. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 35.17, a PEG ratio of 3.53 and a beta of 1.49. The stock has a fifty day moving average price of $69.86 and a two-hundred day moving average price of $72.13. Trex has a 52-week low of $58.68 and a 52-week high of $101.91.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm’s revenue for the quarter was down 23.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 earnings per share. As a group, research analysts predict that Trex will post 2.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Trex

Hedge funds have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. bought a new position in shares of Trex during the second quarter valued at $31,000. Wilmington Savings Fund Society FSB acquired a new position in Trex during the 3rd quarter worth about $30,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Trex in the 2nd quarter valued at about $44,000. Quarry LP increased its stake in shares of Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after buying an additional 513 shares during the period. Finally, UMB Bank n.a. raised its position in shares of Trex by 150.8% during the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after acquiring an additional 392 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.