Trex Company, Inc. (NYSE:TREX) Receives Consensus Recommendation of “Hold” from Brokerages

Trex Company, Inc. (NYSE:TREX) has been given an average rating of “Hold” by the twenty-two analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $49.30.

A number of analysts have weighed in on TREX shares. DA Davidson restated a “buy” rating and set a $55.00 price objective on shares of Trex in a research note on Tuesday, July 14th. Truist Financial upped their target price on shares of Trex from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. BMO Capital Markets set a $57.00 price target on shares of Trex in a report on Wednesday, August 5th. Citigroup reissued a “neutral” rating and set a $52.00 price target (up from $43.00) on shares of Trex in a research report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Trex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 1st.

Insider Buying and Selling

In other Trex news, SVP Amy M. Fernandez sold 1,050 shares of Trex stock in a transaction on Friday, August 7th. The stock was sold at an average price of $50.07, for a total value of $52,573.50. Following the completion of the sale, the senior vice president owned 67,794 shares of the company’s stock, valued at approximately $3,394,445.58. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Clearstead Trust LLC bought a new stake in Trex in the 4th quarter worth about $33,000. Ascentis Independent Advisors bought a new position in Trex during the 1st quarter valued at about $44,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Trex during the 4th quarter valued at about $47,000. Versant Capital Management Inc bought a new stake in shares of Trex in the second quarter worth approximately $58,000. Finally, Covestor Ltd grew its stake in shares of Trex by 1,365.4% in the fourth quarter. Covestor Ltd now owns 1,905 shares of the construction company’s stock worth $67,000 after acquiring an additional 1,775 shares during the period. 95.96% of the stock is owned by institutional investors.

Trex Trading Down 0.7%

Trex stock opened at $44.47 on Tuesday. Trex has a 12 month low of $29.77 and a 12 month high of $54.30. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 3.09 and a beta of 1.47. The business’s fifty day simple moving average is $45.49 and its two-hundred day simple moving average is $42.93.

Trex (NYSE:TREX) last issued its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.01). The company had revenue of $418.02 million for the quarter, compared to the consensus estimate of $415.71 million. Trex had a net margin of 14.68% and a return on equity of 18.03%. Trex’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share. On average, equities research analysts predict that Trex will post 1.76 EPS for the current year.

Trex Company Profile

Trex Company, Inc designs, manufactures and markets wood-alternative composite decking and outdoor living products. Its product portfolio includes decking boards, railing systems, outdoor lighting, deck drainage and related accessories sold under the Trex brand. The company’s composite products are made primarily from recycled materials and are positioned as lower-maintenance alternatives to traditional wood decking.

Trex serves residential and commercial customers through a network of dealers, distributors, retailers, contractors and building professionals.