Trex Company, Inc. (NYSE:TREX) Receives $81.31 Average PT from Brokerages

Trex Company, Inc. (NYSE:TREX) has earned an average recommendation of “Hold” from the seventeen brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $80.38.

Several analysts have weighed in on TREX shares. JPMorgan Chase & Co. dropped their price objective on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. StockNews.com upgraded shares of Trex from a “sell” rating to a “hold” rating in a research report on Thursday, September 19th. BMO Capital Markets reduced their price target on Trex from $82.00 to $67.00 and set a “market perform” rating on the stock in a research report on Tuesday. Robert W. Baird lowered their price objective on Trex from $88.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Benchmark cut their target price on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, August 8th.

Institutional Trading of Trex

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vident Advisory LLC acquired a new stake in shares of Trex during the 1st quarter valued at $4,013,000. Comerica Bank boosted its stake in shares of Trex by 3.8% during the first quarter. Comerica Bank now owns 217,435 shares of the construction company’s stock valued at $21,689,000 after purchasing an additional 8,036 shares in the last quarter. Duality Advisers LP grew its holdings in shares of Trex by 54.1% during the first quarter. Duality Advisers LP now owns 47,677 shares of the construction company’s stock worth $4,756,000 after purchasing an additional 16,738 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Trex by 28.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 77,642 shares of the construction company’s stock valued at $7,746,000 after buying an additional 17,376 shares during the period. Finally, OFI Invest Asset Management bought a new position in Trex in the 2nd quarter valued at approximately $726,000. Institutional investors own 95.96% of the company’s stock.

Trex Stock Up 2.1 %

Shares of TREX stock opened at $64.16 on Tuesday. Trex has a 12-month low of $54.09 and a 12-month high of $101.91. The company has a market capitalization of $6.97 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 2.39 and a beta of 1.50. The firm has a 50 day moving average price of $65.16 and a two-hundred day moving average price of $76.39.

Trex (NYSE:TREX) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. During the same period last year, the firm posted $0.71 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, research analysts expect that Trex will post 2.04 EPS 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.