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

Trex Company, Inc. (NYSE:TREX) has earned an average rating of “Hold” from the sixteen ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and six have given 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 $78.63.

A number of brokerages recently issued reports on TREX. Truist Financial lowered their price objective on Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. UBS Group lowered their price target on Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Bank of America decreased their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Finally, Benchmark reiterated a “buy” rating and set a $80.00 target price on shares of Trex in a research report on Monday, March 3rd.

Insiders Place Their Bets

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction on Friday, February 28th. The shares were 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 owns 1,705 shares of the company’s stock, valued at $105,505.40. This represents a 45.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Trex

Hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. grew its stake in shares of Trex by 54.5% in the fourth quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock worth $746,858,000 after purchasing an additional 3,818,025 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Trex by 463.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company’s stock worth $216,400,000 after buying an additional 2,578,734 shares during the period. AustralianSuper Pty Ltd bought a new stake in shares of Trex in the 4th quarter worth approximately $110,414,000. Anomaly Capital Management LP increased its stake in shares of Trex by 228.2% during the fourth quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company’s stock valued at $104,427,000 after buying an additional 1,051,888 shares during the period. Finally, Wasatch Advisors LP raised its holdings in shares of Trex by 33.2% during the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock valued at $271,407,000 after acquiring an additional 1,015,516 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Stock Up 1.4 %

Shares of TREX opened at $59.88 on Friday. Trex has a twelve month low of $52.75 and a twelve month high of $100.77. The stock has a market cap of $6.42 billion, a PE ratio of 27.34, a P/E/G ratio of 2.51 and a beta of 1.60. The business’s 50-day moving average price is $65.58 and its 200-day moving average price is $67.98.

Trex (NYSE:TREX) last posted its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Analysts expect that Trex will post 2.04 earnings per share 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.