Trex Company, Inc. (NYSE:TREX) Receives Consensus Rating of “Hold” from Analysts

Trex Company, Inc. (NYSE:TREX) has received an average rating of “Hold” from the sixteen ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $80.88.

A number of research firms recently commented on TREX. Benchmark dropped their price target on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. B. Riley reduced their price target on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Barclays dropped their price objective on Trex from $94.00 to $81.00 and set an “underweight” rating for the company in a report on Friday, July 12th. BMO Capital Markets reduced their target price on Trex from $88.00 to $82.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Finally, Stephens lowered shares of Trex from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $115.00 to $72.00 in a research note on Wednesday, August 7th.

Trex Trading Up 1.0 %

TREX opened at $68.12 on Friday. The stock has a 50-day moving average of $67.25 and a 200 day moving average of $79.86. Trex has a 12 month low of $53.59 and a 12 month high of $101.91. The firm has a market cap of $7.40 billion, a P/E ratio of 29.24, a P/E/G ratio of 2.31 and a beta of 1.50.

Trex (NYSE:TREX) last announced its earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Trex had a return on equity of 33.53% and a net margin of 21.07%. The firm had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. During the same quarter in the previous year, the business earned $0.71 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, research analysts forecast that Trex will post 2.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trex

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Trex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock valued at $1,028,829,000 after acquiring an additional 65,428 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in Trex by 3.2% during the second quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock valued at $146,288,000 after purchasing an additional 60,405 shares in the last quarter. American Century Companies Inc. grew its stake in Trex by 7.1% in the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock valued at $136,631,000 after purchasing an additional 122,658 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Trex by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company’s stock valued at $90,752,000 after purchasing an additional 92,563 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in Trex by 0.6% in the second quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company’s stock worth $84,803,000 after purchasing an additional 6,901 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Company Profile

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.