Brokerages Set Trex Company, Inc. (NYSE:TREX) Price Target at $78.63

Shares of Trex Company, Inc. (NYSE:TREX) have been assigned an average rating of “Hold” from the sixteen analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $78.63.

TREX has been the topic of several analyst reports. Bank of America cut their target price on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th. Benchmark reissued a “buy” rating and set a $80.00 target price on shares of Trex in a research report on Monday, March 3rd. JPMorgan Chase & Co. cut their target price on Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Finally, Citigroup cut their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th.

Trex Price Performance

NYSE:TREX opened at $59.54 on Friday. Trex has a 1 year low of $52.75 and a 1 year high of $100.77. The stock’s 50 day simple moving average is $65.48 and its two-hundred day simple moving average is $68.04. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 2.51 and a beta of 1.60.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. As a group, analysts anticipate that Trex will post 2.04 EPS for the current year.

Insiders Place Their Bets

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the sale, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. This represents a 45.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Trex

Several hedge funds have recently made changes to their positions in TREX. Atria Investments Inc lifted its holdings in shares of Trex by 10.5% in the 3rd quarter. Atria Investments Inc now owns 7,210 shares of the construction company’s stock worth $480,000 after buying an additional 683 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Trex by 8.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock worth $152,000 after purchasing an additional 184 shares during the last quarter. Landscape Capital Management L.L.C. lifted its stake in shares of Trex by 339.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 76,545 shares of the construction company’s stock worth $5,096,000 after purchasing an additional 59,145 shares during the last quarter. L & S Advisors Inc purchased a new stake in shares of Trex during the 3rd quarter worth $1,000,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Trex by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 902,070 shares of the construction company’s stock worth $60,060,000 after purchasing an additional 27,992 shares during the last quarter. 95.96% of the stock is currently 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.