Trex Company, Inc. (NYSE:TREX) Receives $46.42 Average Price Target from Analysts

Shares of Trex Company, Inc. (NYSE:TREX) have earned an average recommendation of “Hold” from the twenty-two ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $46.4211.

Several equities research analysts recently commented on the company. UBS Group reissued a “buy” rating and set a $59.00 target price (up from $58.00) on shares of Trex in a report on Friday, May 8th. DA Davidson reissued a “buy” rating and set a $51.00 target price on shares of Trex in a report on Friday, June 5th. Bank of America dropped their target price on Trex from $43.00 to $42.00 and set an “underperform” rating on the stock in a report on Monday, April 20th. Zelman & Associates raised Trex from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Monday, May 18th. Finally, Loop Capital raised Trex from a “hold” rating to a “buy” rating and boosted their target price for the stock from $45.00 to $53.00 in a report on Wednesday, February 25th.

Trex Stock Performance

Shares of NYSE TREX opened at $47.13 on Friday. The stock has a 50 day simple moving average of $41.25 and a 200-day simple moving average of $39.60. The company has a market cap of $4.90 billion, a PE ratio of 26.33, a P/E/G ratio of 9.55 and a beta of 1.51. Trex has a 12-month low of $29.77 and a 12-month high of $68.78.

Trex (NYSE:TREX) last issued its quarterly earnings data on Thursday, May 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 19.66% and a net margin of 16.25%.The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. Sell-side analysts forecast that Trex will post 1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trex

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 stake in Trex during the fourth quarter worth approximately $27,000. Clearstead Trust LLC bought a new stake in Trex during the fourth quarter worth approximately $33,000. Ascentis Independent Advisors bought a new position in shares of Trex in the first quarter valued at $44,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Trex in the fourth quarter valued at $47,000. Finally, Empowered Funds LLC bought a new position in shares of Trex in the fourth quarter valued at $50,000. Institutional investors own 95.96% of the company’s stock.

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.