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

Shares of Trex Company, Inc. (NYSE:TREX) have received an average recommendation of “Hold” from the sixteen analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $80.88.

Several analysts recently commented on the company. Bank of America cut their price objective on Trex from $97.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Barclays reduced their target price on Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a report on Friday, July 12th. UBS Group dropped their price objective on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Stephens cut shares of Trex from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $115.00 to $72.00 in a report on Wednesday, August 7th. Finally, Benchmark cut their price target on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 8th.

Trex Stock Up 0.2 %

NYSE:TREX opened at $63.74 on Monday. The stock has a market cap of $6.93 billion, a P/E ratio of 27.36, a PEG ratio of 2.14 and a beta of 1.50. The business’s 50-day moving average price is $72.50 and its two-hundred day moving average price is $84.35. Trex has a twelve month low of $53.59 and a twelve month high of $101.91.

Trex (NYSE:TREX) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.71 EPS. On average, equities research analysts expect that Trex will post 2.06 EPS for the current fiscal year.

Institutional Trading of Trex

Several institutional investors and hedge funds have recently bought and sold shares of the business. Granite Bay Wealth Management LLC purchased a new position in Trex in the second quarter valued at $467,000. Truist Financial Corp increased its stake in shares of Trex by 15.0% in the 2nd quarter. Truist Financial Corp now owns 3,949 shares of the construction company’s stock worth $293,000 after acquiring an additional 515 shares during the last quarter. Quarry LP boosted its holdings in Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after purchasing an additional 513 shares during the last quarter. Creative Planning grew its position in Trex by 0.7% in the second quarter. Creative Planning now owns 60,284 shares of the construction company’s stock worth $4,468,000 after acquiring an additional 412 shares during the period. Finally, Scientech Research LLC grew its holdings in shares of Trex by 302.0% during the 2nd quarter. Scientech Research LLC now owns 13,581 shares of the construction company’s stock worth $1,007,000 after purchasing an additional 10,203 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.