Shares of Trex Company, Inc. (NYSE:TREX – Get Free Report) have been assigned an average rating of “Hold” from the twenty-three ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $50.48.
Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Trex from a “hold” rating to a “buy” rating and raised their price target for the stock from $53.00 to $57.00 in a research report on Thursday, October 8th. Stephens upped their price objective on shares of Trex from $45.00 to $50.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 28th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $56.00 price objective (up from $49.00) on shares of Trex in a research report on Friday, July 10th. Zacks Research cut shares of Trex from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. Finally, Barclays reissued an “underweight” rating and set a $42.00 target price (up from $36.00) on shares of Trex in a research report on Tuesday, July 14th.
Check Out Our Latest Report on Trex
Trex Trading Up 0.1%
TREX opened at $48.84 on Friday. Trex has a 1-year low of $29.77 and a 1-year high of $51.75. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 29.07, a P/E/G ratio of 2.83 and a beta of 1.48. The business has a 50 day moving average of $45.31 and a 200-day moving average of $43.92.
Trex (NYSE:TREX – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.01). The company had revenue of $418.02 million during the quarter, compared to analyst estimates of $415.71 million. Trex had a return on equity of 18.03% and a net margin of 14.68%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 EPS. Equities analysts predict that Trex will post 1.77 EPS for the current year.
Insider Buying and Selling
In other Trex news, SVP Amy M. Fernandez sold 1,050 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president owned 67,794 shares of the company’s stock, valued at $3,394,445.58. This represents a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.93% of the stock is currently owned by company insiders.
Institutional Trading of Trex
Several institutional investors have recently modified their holdings of TREX. BlackRock Inc. acquired a new position in shares of Trex in the second quarter valued at $525,081,000. Wellington Management Group LLP boosted its stake in Trex by 18.2% during the second quarter. Wellington Management Group LLP now owns 9,877,116 shares of the construction company’s stock worth $494,251,000 after buying an additional 1,518,338 shares in the last quarter. Bank of America Corp DE acquired a new stake in Trex during the second quarter worth $94,851,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in Trex during the third quarter worth $32,858,000. Finally, Freestone Grove Partners LP bought a new stake in Trex in the 2nd quarter valued at $36,197,000. Institutional investors and hedge funds own 95.96% of the company’s stock.
About Trex
Trex Company, Inc is a manufacturer of composite decking and outdoor living products. Its offerings are designed as alternatives to traditional wood and include residential and commercial decking, railing systems, outdoor lighting, and related accessories.
The company’s products are marketed under the Trex brand and include decking lines such as Trex Transcend, Trex Select, and Trex Enhance. Trex composite products are made primarily from recycled wood fibers and recycled polyethylene plastics, supporting the company’s focus on low-maintenance and environmentally oriented outdoor building materials.
Founded in 1996 and headquartered in Winchester, Virginia, Trex serves customers through a network of distributors, dealers, retailers, contractors, and building professionals.
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