Analysts Set Trex Company, Inc. (NYSE:TREX) Target Price at $46.42

Trex Company, Inc. (NYSE:TREX) has earned a consensus rating of “Hold” from the twenty-two analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $46.4211.

A number of equities research analysts have recently commented on the company. Zacks Research upgraded Trex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Zelman & Associates upgraded Trex from a “neutral” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Monday, May 18th. Barclays reiterated an “underweight” rating and set a $36.00 price objective (up from $35.00) on shares of Trex in a research report on Monday, May 11th. Citigroup reiterated a “neutral” rating and set a $43.00 price objective (down from $46.00) on shares of Trex in a research report on Monday, May 11th. Finally, Bank of America cut their price objective on Trex from $43.00 to $42.00 and set an “underperform” rating for the company in a research report on Monday, April 20th.

Institutional Investors Weigh In On Trex

A number of institutional investors and hedge funds have recently modified their holdings of TREX. Wellington Management Group LLP raised its stake in Trex by 266.0% during the 4th quarter. Wellington Management Group LLP now owns 7,225,393 shares of the construction company’s stock valued at $253,467,000 after purchasing an additional 5,251,297 shares during the period. AQR Capital Management LLC raised its stake in Trex by 143.8% during the 4th quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company’s stock valued at $136,655,000 after purchasing an additional 2,297,533 shares during the period. Norges Bank acquired a new stake in Trex during the 4th quarter valued at $62,904,000. Freestone Grove Partners LP acquired a new stake in Trex during the 4th quarter valued at $53,951,000. Finally, Impax Asset Management Group plc raised its stake in Trex by 93.0% during the 3rd quarter. Impax Asset Management Group plc now owns 1,934,581 shares of the construction company’s stock valued at $99,354,000 after purchasing an additional 932,247 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Price Performance

TREX opened at $40.45 on Wednesday. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 7.94 and a beta of 1.51. Trex has a 1-year low of $29.77 and a 1-year high of $68.78. The business has a 50 day moving average price of $38.72 and a two-hundred day moving average price of $38.25.

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

About Trex

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.