Analysts Set Trex Company, Inc. (NYSE:TREX) Target Price at $79.94

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

A number of analysts have issued reports on the company. Barclays lowered their target price on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Truist Financial cut their target price on shares of Trex from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Jefferies Financial Group reduced their price target on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Benchmark dropped their price objective 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. Finally, Stephens cut shares of Trex from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $115.00 to $72.00 in a research note on Wednesday, August 7th.

Institutional Trading of Trex

A number of hedge funds and other institutional investors have recently made changes to their positions in TREX. Hantz Financial Services Inc. bought a new stake in Trex during the 2nd quarter worth about $31,000. UMB Bank n.a. grew its stake 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 valued at $43,000 after purchasing an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Trex in the second quarter valued at approximately $44,000. Quarry LP raised its position in Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after purchasing an additional 513 shares during the last quarter. Finally, Mather Group LLC. lifted its holdings in Trex by 142.3% during the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after buying an additional 370 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Trading Down 0.8 %

Shares of Trex stock opened at $67.69 on Friday. Trex has a 1-year low of $58.68 and a 1-year high of $101.91. The firm has a fifty day simple moving average of $67.39 and a 200-day simple moving average of $73.98. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 3.10 and a beta of 1.49.

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 company had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 earnings per share. As a group, research analysts predict that Trex will post 2.05 earnings per share 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.