Trex Company, Inc. (NYSE:TREX) Stock Has Average Target Price of $49.30 According to Analysts

Shares of Trex Company, Inc. (NYSE:TREX) have received a consensus rating of “Hold” from the twenty-two brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $49.30.

TREX has been the topic of several research reports. BMO Capital Markets set a $57.00 target price on Trex in a research report on Wednesday, August 5th. Truist Financial lifted their price objective on Trex from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $51.00 target price (up from $41.00) on shares of Trex in a report on Tuesday, July 14th. DA Davidson restated a “buy” rating and issued a $55.00 price target on shares of Trex in a report on Tuesday, July 14th. Finally, Bank of America lifted their price target on shares of Trex from $42.00 to $44.00 and gave the company an “underperform” rating in a research report on Tuesday, July 14th.

Insider Activity at Trex

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

Institutional Investors Weigh In On Trex

Several hedge funds have recently modified their holdings of TREX. Junto Capital Management LP acquired a new position in Trex during the 2nd quarter worth approximately $20,074,000. Sequoia Financial Advisors LLC raised its stake in shares of Trex by 18.3% during the second quarter. Sequoia Financial Advisors LLC now owns 10,131 shares of the construction company’s stock valued at $507,000 after purchasing an additional 1,567 shares during the period. Tidal Investments LLC raised its stake in shares of Trex by 129.8% during the second quarter. Tidal Investments LLC now owns 20,629 shares of the construction company’s stock valued at $1,032,000 after purchasing an additional 11,651 shares during the period. WINTON GROUP Ltd lifted its position in shares of Trex by 449.0% during the second quarter. WINTON GROUP Ltd now owns 194,459 shares of the construction company’s stock worth $9,731,000 after purchasing an additional 159,039 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Trex by 858.1% during the second quarter. NewEdge Advisors LLC now owns 5,988 shares of the construction company’s stock worth $300,000 after purchasing an additional 5,363 shares in the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Stock Performance

Shares of NYSE TREX opened at $43.22 on Tuesday. The firm has a market cap of $4.49 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 3.04 and a beta of 1.47. Trex has a 1 year low of $29.77 and a 1 year high of $54.30. The firm’s 50 day moving average price is $45.47 and its 200 day moving average price is $42.82.

Trex (NYSE:TREX) last posted its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.01). The business had revenue of $418.02 million during the quarter, compared to analysts’ expectations of $415.71 million. Trex had a net margin of 14.68% and a return on equity of 18.03%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 EPS. As a group, equities analysts predict that Trex will post 1.76 EPS for the current year.

Trex Company Profile

Trex Company, Inc designs, manufactures and markets wood-alternative composite decking and outdoor living products. Its product portfolio includes decking boards, railing systems, outdoor lighting, deck drainage and related accessories sold under the Trex brand. The company’s composite products are made primarily from recycled materials and are positioned as lower-maintenance alternatives to traditional wood decking.

Trex serves residential and commercial customers through a network of dealers, distributors, retailers, contractors and building professionals.