Analysts Set Trex Company, Inc. (NYSE:TREX) Target Price at $77.06

Trex Company, Inc. (NYSE:TREX) has been given an average rating of “Hold” by the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $76.65.

TREX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. UBS Group lowered their target price on shares of Trex from $74.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday. Jefferies Financial Group decreased their price objective on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Stephens decreased their price objective on shares of Trex from $73.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Barclays decreased their price objective on shares of Trex from $67.00 to $54.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th.

Trex Stock Up 6.9%

NYSE TREX opened at $61.75 on Friday. Trex has a 12-month low of $49.01 and a 12-month high of $92.02. The company has a market capitalization of $6.62 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62. The firm’s 50 day moving average is $57.02 and its 200-day moving average is $65.78.

Trex (NYSE:TREX) last issued its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $339.99 million for the quarter, compared to the consensus estimate of $329.11 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 earnings per share. As a group, sell-side analysts expect that Trex will post 2.04 EPS for the current year.

Insider Buying and Selling

In other news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the transaction, the director now owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This represents a 45.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Amy M. Fernandez sold 2,366 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $61.17, for a total transaction of $144,728.22. Following the completion of the transaction, the senior vice president now directly owns 24,569 shares of the company’s stock, valued at $1,502,885.73. This trade represents a 8.78% decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trex

Hedge funds have recently added to or reduced their stakes in the business. Atomi Financial Group Inc. acquired a new stake in Trex during the 4th quarter worth approximately $247,000. Pictet Asset Management Holding SA boosted its position in Trex by 7.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company’s stock worth $1,004,000 after buying an additional 969 shares during the period. SG Americas Securities LLC increased its position in Trex by 298.5% during the 4th quarter. SG Americas Securities LLC now owns 6,137 shares of the construction company’s stock valued at $424,000 after purchasing an additional 4,597 shares during the period. Park Avenue Securities LLC increased its position in Trex by 26.6% during the 4th quarter. Park Avenue Securities LLC now owns 7,444 shares of the construction company’s stock valued at $514,000 after purchasing an additional 1,566 shares during the period. Finally, Stephens Inc. AR increased its position in Trex by 10.6% during the 4th quarter. Stephens Inc. AR now owns 6,294 shares of the construction company’s stock valued at $434,000 after purchasing an additional 601 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

About Trex

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.