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

Trex Company, Inc. (NYSE:TREX) has received an average recommendation of “Hold” from the sixteen research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $79.94.

TREX has been the subject of several research analyst reports. Barclays decreased their target price on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. DA Davidson boosted their target price on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. BMO Capital Markets raised their price target on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Robert W. Baird upped their price objective on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group decreased their target price on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th.

Institutional Investors Weigh In On Trex

A number of institutional investors have recently made changes to their positions in TREX. Wasatch Advisors LP increased its position in shares of Trex by 33.2% during the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after purchasing an additional 1,015,516 shares during the last quarter. State Street Corp raised its holdings in Trex by 1.2% in the 3rd quarter. State Street Corp now owns 3,183,444 shares of the construction company’s stock worth $211,954,000 after purchasing an additional 37,436 shares during the period. Geode Capital Management LLC lifted its position in Trex by 1.9% during the third quarter. Geode Capital Management LLC now owns 1,873,455 shares of the construction company’s stock valued at $124,766,000 after purchasing an additional 35,039 shares in the last quarter. American Century Companies Inc. grew its holdings in Trex by 7.1% during the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock valued at $136,631,000 after purchasing an additional 122,658 shares during the period. Finally, Geneva Capital Management LLC increased its position in Trex by 0.4% in the third quarter. Geneva Capital Management LLC now owns 1,592,533 shares of the construction company’s stock worth $106,031,000 after buying an additional 6,616 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Performance

Shares of TREX stock opened at $69.43 on Friday. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of 31.70, 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 company has a 50-day simple moving average of $72.60 and a two-hundred day simple moving average of $70.71.

Trex (NYSE:TREX) last released its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. The company had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Trex’s quarterly revenue was down 23.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. On average, sell-side analysts forecast that Trex will post 2.05 EPS for the current fiscal 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.