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

Trex Company, Inc. (NYSE:TREX) has been assigned a consensus rating of “Hold” from the twenty-two analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $46.4211.

A number of equities research analysts have issued reports on TREX shares. Stifel Nicolaus increased their price target on Trex from $40.00 to $44.00 and gave the company a “hold” rating in a research report on Monday, May 11th. Loop Capital raised Trex from a “hold” rating to a “buy” rating and raised their target price for the stock from $45.00 to $53.00 in a research report on Wednesday, February 25th. Citigroup reissued a “neutral” rating and set a $43.00 target price (down from $46.00) on shares of Trex in a research report on Monday, May 11th. UBS Group reissued a “buy” rating and set a $59.00 target price (up from $58.00) on shares of Trex in a research report on Friday, May 8th. Finally, Zelman & Associates raised Trex from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Monday, May 18th.

Trex Price Performance

TREX stock opened at $39.16 on Wednesday. The firm has a market capitalization of $4.07 billion, a P/E ratio of 21.88, a P/E/G ratio of 7.94 and a beta of 1.51. The business’s 50-day moving average is $38.62 and its two-hundred day moving average is $38.24. Trex has a 1 year low of $29.77 and a 1 year high of $68.78.

Trex (NYSE:TREX) last posted its quarterly earnings results 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. The company had revenue of $343.40 million for the quarter, compared to analyst estimates of $339.99 million. Trex had a return on equity of 19.66% and a net margin of 16.25%.Trex’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. On average, analysts expect that Trex will post 1.68 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Essential Partners LLC grew its stake in shares of Trex by 24.6% in the 1st quarter. Essential Partners LLC now owns 3,383 shares of the construction company’s stock valued at $123,000 after purchasing an additional 669 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Trex by 43.6% during the first quarter. EverSource Wealth Advisors LLC now owns 5,865 shares of the construction company’s stock worth $214,000 after purchasing an additional 1,781 shares during the last quarter. California State Teachers Retirement System increased its position in Trex by 26.6% during the first quarter. California State Teachers Retirement System now owns 129,321 shares of the construction company’s stock worth $4,710,000 after buying an additional 27,189 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Trex by 73.6% in the first quarter. Gabelli Funds LLC now owns 86,805 shares of the construction company’s stock worth $3,161,000 after acquiring an additional 36,805 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in Trex by 1.0% in the first quarter. Gamco Investors INC. ET AL now owns 145,965 shares of the construction company’s stock valued at $5,316,000 after purchasing an additional 1,475 shares during the last quarter. Hedge funds and other 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.