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

Trex Company, Inc. (NYSE:TREX) has earned an average recommendation of “Hold” from the twenty-three ratings firms that are covering the stock, MarketBeat Ratings reports. Three investment 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 1 year target price among analysts that have covered the stock in the last year is $47.7250.

A number of equities research analysts recently commented on the stock. Barclays upped their price target on shares of Trex from $32.00 to $39.00 and gave the company an “underweight” rating in a report on Wednesday, February 25th. Jefferies Financial Group upgraded shares of Trex from a “hold” rating to a “buy” rating and boosted their price objective for the company from $39.00 to $42.00 in a research report on Monday, December 15th. Robert W. Baird set a $48.00 price objective on shares of Trex in a research note on Monday, January 12th. Zacks Research upgraded shares of Trex from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Finally, Wolfe Research raised Trex from a “peer perform” rating to an “outperform” rating and set a $47.00 target price on the stock in a research note on Wednesday, January 7th.

Institutional Investors Weigh In On Trex

A number of large investors have recently made changes to their positions in TREX. AQR Capital Management LLC boosted its holdings in Trex by 3.2% in the first quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock valued at $320,000 after acquiring an additional 177 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Trex by 91.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock worth $47,803,000 after purchasing an additional 392,715 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Trex by 3.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 16,294 shares of the construction company’s stock worth $886,000 after purchasing an additional 615 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Trex by 0.8% in the 2nd quarter. State of Michigan Retirement System now owns 25,822 shares of the construction company’s stock worth $1,404,000 after purchasing an additional 200 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of Trex by 331.5% in the 2nd quarter. Bank of Montreal Can now owns 66,733 shares of the construction company’s stock worth $3,629,000 after purchasing an additional 51,269 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Trex Price Performance

TREX opened at $37.21 on Friday. The stock’s 50 day simple moving average is $41.15 and its 200 day simple moving average is $44.01. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 8.58 and a beta of 1.58. Trex has a 1 year low of $29.77 and a 1 year high of $68.78.

Trex (NYSE:TREX) last announced its quarterly earnings data on Tuesday, February 24th. The construction company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.05. Trex had a return on equity of 20.29% and a net margin of 16.22%.The firm had revenue of $161.13 million during the quarter, compared to the consensus estimate of $144.39 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The business’s revenue was down 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Trex will post 2.04 EPS for the current 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.