Trex Company, Inc. (NYSE:TREX) Receives $46.42 Consensus Price Target from Brokerages

Shares of Trex Company, Inc. (NYSE:TREX) have been assigned an average recommendation of “Hold” from the twenty-two research firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $46.4211.

Several analysts have recently weighed in on TREX shares. Zelman & Associates upgraded shares of Trex from a “neutral” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Monday, May 18th. Citigroup reissued a “neutral” rating and set a $43.00 price objective (down from $46.00) on shares of Trex in a report on Monday, May 11th. DA Davidson reissued a “buy” rating and set a $51.00 price objective on shares of Trex in a report on Friday, June 5th. Barclays reissued an “underweight” rating and set a $36.00 price objective (up from $35.00) on shares of Trex in a report on Monday, May 11th. Finally, Stifel Nicolaus raised their price objective on Trex from $40.00 to $44.00 and gave the company a “hold” rating in a report on Monday, May 11th.

Trex Stock Up 1.2%

NYSE:TREX opened at $46.93 on Friday. The business’s 50-day moving average price is $40.63 and its two-hundred day moving average price is $39.38. Trex has a twelve month low of $29.77 and a twelve month high of $68.78. The stock has a market cap of $4.88 billion, a P/E ratio of 26.22, a PEG ratio of 9.40 and a beta of 1.51.

Trex (NYSE:TREX) last released its quarterly earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The firm had revenue of $343.40 million for the quarter, compared to analysts’ expectations of $339.99 million. Trex had a return on equity of 19.66% and a net margin of 16.25%.The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. On average, equities research analysts expect that Trex will post 1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Trex

Large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new position in Trex in the 4th quarter worth $27,000. Clearstead Trust LLC purchased a new position in Trex in the 4th quarter worth approximately $33,000. Ascentis Independent Advisors purchased a new position in Trex in the 1st quarter worth approximately $44,000. Eurizon Capital SGR S.p.A. purchased a new position in Trex in the 4th quarter worth approximately $47,000. Finally, Empowered Funds LLC purchased a new position in Trex in the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.