Trex (NYSE:TREX) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Trex (NYSE:TREX) had its price target hoisted by stock analysts at Stifel Nicolaus from $44.00 to $47.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the construction company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 2.49% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $51.00 price target on shares of Trex in a research note on Tuesday. Wall Street Zen raised shares of Trex from a “sell” rating to a “hold” rating in a research report on Sunday. Barclays reaffirmed an “underweight” rating and set a $42.00 target price (up from $36.00) on shares of Trex in a research report on Tuesday. Truist Financial set a $55.00 price target on shares of Trex and gave the stock a “buy” rating in a report on Monday, June 22nd. Finally, DA Davidson reiterated a “buy” rating and set a $51.00 target price on shares of Trex in a research report on Friday, June 5th. Ten analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $47.84.

Trex Price Performance

TREX opened at $45.86 on Tuesday. Trex has a fifty-two week low of $29.77 and a fifty-two week high of $68.78. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 9.58 and a beta of 1.46. The company’s 50 day moving average price is $43.41 and its two-hundred day moving average price is $41.09.

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

Insider Activity

In other news, SVP Jacob T. Rudolph sold 1,400 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $50.00, for a total transaction of $70,000.00. Following the transaction, the senior vice president directly owned 36,631 shares of the company’s stock, valued at approximately $1,831,550. This trade represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Trex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in Trex during the 4th quarter valued at approximately $27,000. Clearstead Trust LLC purchased a new stake in shares of Trex in the 4th quarter worth about $33,000. Ascentis Independent Advisors purchased a new position in Trex during the 1st quarter valued at about $44,000. Eurizon Capital SGR S.p.A. purchased a new position in Trex during the 4th quarter valued at about $47,000. Finally, Empowered Funds LLC bought a new stake in Trex during the fourth quarter worth about $50,000. 95.96% of the stock is currently owned by institutional investors.

Trex Company Profile

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.