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

Shares of Trex Company, Inc. (NYSE:TREX) have been given a consensus recommendation of “Hold” by the sixteen analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $78.63.

A number of research firms have recently commented on TREX. Bank of America reduced their target price on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. UBS Group decreased their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Benchmark restated a “buy” rating and set a $80.00 target price on shares of Trex in a research note on Monday, March 3rd. DA Davidson reiterated a “neutral” rating and issued a $74.00 price target on shares of Trex in a research note on Tuesday, February 25th. Finally, StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th.

Trex Trading Down 2.7 %

Shares of NYSE TREX opened at $59.41 on Friday. The stock has a fifty day moving average price of $64.83 and a 200 day moving average price of $67.94. The company has a market cap of $6.37 billion, a P/E ratio of 27.13, a P/E/G ratio of 2.51 and a beta of 1.60. Trex has a 12-month low of $52.75 and a 12-month high of $100.33.

Trex (NYSE:TREX) last announced its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. The business had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. On average, sell-side analysts forecast that Trex will post 2.04 EPS for the current fiscal year.

Insider Transactions at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the sale, the director now owns 1,705 shares of the company’s stock, valued at $105,505.40. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Trex

Several hedge funds and other institutional investors have recently made changes to their positions in the business. L & S Advisors Inc bought a new stake in shares of Trex during the 3rd quarter worth about $1,000,000. Algert Global LLC boosted its stake in shares of Trex by 81.3% during the 3rd quarter. Algert Global LLC now owns 86,300 shares of the construction company’s stock worth $5,746,000 after acquiring an additional 38,700 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Trex by 237.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 53,084 shares of the construction company’s stock worth $3,534,000 after purchasing an additional 37,362 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Trex by 97.6% in the third quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company’s stock worth $53,098,000 after acquiring an additional 393,850 shares in the last quarter. Finally, Atomi Financial Group Inc. purchased a new position in Trex during the 4th quarter worth approximately $247,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

About Trex

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.