Trex (NYSE:TREX) Price Target Raised to $50.00

Trex (NYSE:TREX) had its price target hoisted by Stephens from $45.00 to $50.00 in a research report report published on Tuesday morning, MarketBeat.com reports. Stephens currently has an equal weight rating on the construction company’s stock.

A number of other equities research analysts also recently issued reports on the company. Citigroup reissued a “neutral” rating and set a $52.00 price target (up from $43.00) on shares of Trex in a research report on Wednesday, July 15th. UBS Group reaffirmed a “buy” rating and issued a $61.00 price objective (up from $59.00) on shares of Trex in a report on Tuesday, July 14th. Zelman & Associates upgraded Trex from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Monday, May 18th. Bank of America increased their target price on Trex from $42.00 to $44.00 and gave the stock an “underperform” rating in a report on Tuesday, July 14th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $56.00 target price (up from $49.00) on shares of Trex in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $49.15.

Trex Stock Performance

NYSE:TREX opened at $44.03 on Tuesday. Trex has a 52 week low of $29.77 and a 52 week high of $66.36. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 4.87 and a beta of 1.46. The firm’s 50-day simple moving average is $44.74 and its 200 day simple moving average is $41.75.

Trex (NYSE:TREX) last posted its quarterly earnings data on Thursday, May 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Trex had a net margin of 16.25% and a return on equity of 19.66%. The firm had revenue of $343.40 million during the quarter, compared to the consensus estimate of $339.99 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Trex will post 1.78 EPS for the current year.

Insider Transactions at Trex

In other Trex news, SVP Jacob T. Rudolph sold 1,400 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $50.00, for a total transaction of $70,000.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trex

A number of large investors have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in shares of Trex in the 4th quarter valued at $27,000. Clearstead Trust LLC bought a new stake in shares of Trex during the 4th quarter worth $33,000. Versant Capital Management Inc bought a new stake in shares of Trex during the 2nd quarter worth $58,000. Ascentis Independent Advisors acquired a new stake in Trex in the first quarter valued at about $44,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Trex in the fourth quarter valued at about $47,000. Institutional investors and hedge funds 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.