Trex Company, Inc. (NYSE:TREX) Stock Has Average Target Price of $50.19 According to Brokerages

Shares of Trex Company, Inc. (NYSE:TREX) have earned an average rating of “Hold” from the twenty-three analysts that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $50.48.

A number of research firms have recently issued reports on TREX. BMO Capital Markets set a $57.00 price objective on shares of Trex in a research note on Wednesday, August 5th. UBS Group restated a “buy” rating and issued a $61.00 target price (up from $59.00) on shares of Trex in a research note on Tuesday, July 14th. Bank of America upped their target price on shares of Trex from $42.00 to $44.00 and gave the company an “underperform” rating in a research note on Tuesday, July 14th. Barclays reaffirmed an “underweight” rating and set a $42.00 price target (up from $36.00) on shares of Trex in a report on Tuesday, July 14th. Finally, Weiss Ratings raised shares of Trex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, September 1st.

Insiders Place Their Bets

In other news, SVP Amy M. Fernandez sold 1,050 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $50.07, for a total transaction of $52,573.50. Following the completion of the sale, the senior vice president directly owned 67,794 shares in the company, valued at $3,394,445.58. This trade represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Ascentis Independent Advisors acquired a new stake in Trex during the 1st quarter valued at approximately $44,000. Elevation Wealth Partners LLC raised its position in shares of Trex by 250.7% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,224 shares of the construction company’s stock valued at $53,000 after purchasing an additional 875 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Trex by 104.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,269 shares of the construction company’s stock valued at $55,000 after purchasing an additional 649 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of Trex in the 2nd quarter valued at approximately $58,000. Finally, Parallel Advisors LLC boosted its stake in shares of Trex by 77.6% during the 1st quarter. Parallel Advisors LLC now owns 2,120 shares of the construction company’s stock valued at $77,000 after buying an additional 926 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex Price Performance

Shares of TREX opened at $50.43 on Friday. Trex has a 12 month low of $29.77 and a 12 month high of $51.10. The stock’s 50-day moving average is $45.35 and its two-hundred day moving average is $44.07. The stock has a market cap of $5.24 billion, a PE ratio of 30.02, a P/E/G ratio of 2.96 and a beta of 1.48.

Trex (NYSE:TREX) last posted its earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 14.68% and a return on equity of 18.03%. Trex’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. On average, research analysts anticipate that Trex will post 1.77 earnings per share for the current year.

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.