Trex Company, Inc. (NYSE:TREX) Receives $47.73 Consensus PT from Analysts

Shares of Trex Company, Inc. (NYSE:TREX) have earned an average rating of “Hold” from the twenty-three research firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $47.7750.

TREX has been the topic of a number of research reports. Wolfe Research raised shares of Trex from a “peer perform” rating to an “outperform” rating and set a $47.00 price target on the stock in a research note on Wednesday, January 7th. The Goldman Sachs Group set a $54.00 price objective on shares of Trex and gave the stock a “buy” rating in a report on Tuesday, December 16th. DA Davidson boosted their price objective on shares of Trex from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday. Jefferies Financial Group raised shares of Trex from a “hold” rating to a “buy” rating and upped their target price for the stock from $39.00 to $42.00 in a research note on Monday, December 15th. Finally, Benchmark cut Trex from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. lifted its stake in Trex by 1.9% in the 3rd quarter. Alliancebernstein L.P. now owns 7,543,925 shares of the construction company’s stock valued at $389,795,000 after acquiring an additional 142,215 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Trex by 266.0% during the 4th quarter. Wellington Management Group LLP now owns 7,225,393 shares of the construction company’s stock worth $253,467,000 after acquiring an additional 5,251,297 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Trex by 143.8% during the 4th quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company’s stock worth $136,655,000 after acquiring an additional 2,297,533 shares in the last quarter. Morgan Stanley raised its holdings in shares of Trex by 44.6% in the fourth quarter. Morgan Stanley now owns 2,313,285 shares of the construction company’s stock valued at $81,150,000 after purchasing an additional 713,054 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Trex by 2.5% in the third quarter. American Century Companies Inc. now owns 2,191,472 shares of the construction company’s stock worth $113,233,000 after purchasing an additional 53,554 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Trex Trading Down 0.9%

Shares of NYSE TREX traded down $0.33 during mid-day trading on Friday, reaching $37.01. 109,339 shares of the company’s stock were exchanged, compared to its average volume of 2,089,219. Trex has a twelve month low of $29.77 and a twelve month high of $68.78. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 8.77 and a beta of 1.58. The business has a fifty day simple moving average of $41.25 and a 200 day simple moving average of $43.92.

Trex (NYSE:TREX) last issued its quarterly earnings data on Tuesday, February 24th. The construction company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.05. Trex had a return on equity of 20.29% and a net margin of 16.22%.The business had revenue of $161.13 million during the quarter, compared to analyst estimates of $144.39 million. During the same period in the previous year, the firm earned $0.09 EPS. Trex’s quarterly revenue was down 3.9% compared to the same quarter last year. Equities research analysts predict that Trex will post 2.04 earnings per share for the current fiscal 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.