Trex Company, Inc. (NYSE:TREX) Receives $79.94 Consensus PT from Brokerages

Shares of Trex Company, Inc. (NYSE:TREX) have been assigned an average rating of “Hold” from the sixteen research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $79.81.

TREX has been the topic of several recent research reports. Robert W. Baird upped their price objective on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. BMO Capital Markets boosted their target price on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Citigroup lowered their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Monday. Finally, DA Davidson upped their price objective on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th.

Trex Stock Down 5.3 %

Shares of Trex stock opened at $66.62 on Friday. Trex has a 52 week low of $58.68 and a 52 week high of $101.91. The stock’s 50-day simple moving average is $72.59 and its 200-day simple moving average is $70.44. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 3.50 and a beta of 1.50.

Trex (NYSE:TREX) last issued its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. Trex’s revenue for the quarter was down 23.1% on a year-over-year basis. On average, equities analysts expect that Trex will post 2.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new stake in Trex during the 3rd quarter valued at $30,000. UMB Bank n.a. increased 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 buying an additional 392 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Trex in the second quarter valued at about $44,000. Quarry LP lifted its stake in Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after acquiring an additional 513 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Trex by 274.9% during the 4th quarter. GAMMA Investing LLC now owns 701 shares of the construction company’s stock worth $48,000 after acquiring an additional 514 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

About Trex

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.