Brokerages Set Trex Company, Inc. (NYSE:TREX) Target Price at $46.68

Shares of Trex Company, Inc. (NYSE:TREX) have received a consensus rating of “Hold” from the twenty-one brokerages that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $49.00.

TREX has been the topic of several research reports. Zelman & Associates raised shares of Trex from a “neutral” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Monday, May 18th. Stifel Nicolaus increased their target price on shares of Trex from $44.00 to $47.00 and gave the company a “hold” rating in a research report on Tuesday. Wall Street Zen upgraded shares of Trex from a “sell” rating to a “hold” rating in a research note on Sunday. DA Davidson reaffirmed a “buy” rating and issued a $55.00 price target on shares of Trex in a report on Tuesday. Finally, Citigroup reiterated a “neutral” rating and issued a $52.00 price objective (up from $43.00) on shares of Trex in a research note on Wednesday.

Trending Headlines about Trex

Here are the key news stories impacting Trex this week:

• Positive Sentiment: Trex announced strategic distribution network changes and reported preliminary quarterly results, which investors are reading as a potential margin and execution improvement. Trex shares rise after distribution overhaul, guidance increase
• Positive Sentiment: Truist Financial raised its price target on Trex to $60 and kept a buy rating, signaling strong upside expectations. Trex (NYSE:TREX) Given New $60.00 Price Target at Truist Financial
• Positive Sentiment: DA Davidson reiterated a buy rating on Trex, adding to the bullish analyst sentiment around the stock. Trex (NYSE:TREX) Given Buy Rating at DA Davidson
• Positive Sentiment: Bank of America issued a more constructive forecast for Trex’s stock price, another sign that Wall Street sees room for improvement. Bank of America Issues Positive Forecast for Trex (NYSE:TREX) Stock Price
• Neutral Sentiment: Trex corrected a disclosure about full-year adjusted EBITDA guidance. The update may reduce confusion, but by itself it is more of an administrative clarification than a clear demand or earnings catalyst. Trex Company Corrects Adjusted EBITDA Guidance Disclosure

Insider Activity

In other Trex news, SVP Jacob T. Rudolph sold 1,400 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $50.00, for a total value of $70,000.00. Following the sale, the senior vice president directly owned 36,631 shares in the company, valued at $1,831,550. The trade was a 3.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trex

Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in Trex by 3.2% during the 1st quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock worth $320,000 after purchasing an additional 177 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in Trex by 1.9% in the 2nd quarter. Benjamin Edwards Inc. now owns 11,240 shares of the construction company’s stock worth $611,000 after purchasing an additional 214 shares during the period. Pinnacle Associates Ltd. grew its holdings in Trex by 0.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 40,285 shares of the construction company’s stock valued at $1,413,000 after buying an additional 285 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Trex by 6.3% during the second quarter. Hsbc Holdings PLC now owns 5,403 shares of the construction company’s stock valued at $294,000 after buying an additional 322 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in shares of Trex by 0.7% during the third quarter. CIBC Private Wealth Group LLC now owns 45,646 shares of the construction company’s stock valued at $2,359,000 after buying an additional 333 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Price Performance

Shares of NYSE:TREX opened at $43.67 on Thursday. The company has a market capitalization of $4.54 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 8.66 and a beta of 1.46. The business has a fifty day moving average price of $43.61 and a two-hundred day moving average price of $41.21. Trex has a 1 year low of $29.77 and a 1 year high of $68.78.

Trex (NYSE:TREX) last released its earnings results on Thursday, May 7th. The construction company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of $343.40 million for the quarter, compared to analysts’ expectations of $339.99 million. Trex had a return on equity of 19.66% and a net margin of 16.25%.The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. Sell-side analysts anticipate that Trex will post 1.74 earnings per share 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.