Trex Company, Inc. (NYSE:TREX) Given Average Rating of “Hold” by Analysts

Trex Company, Inc. (NYSE:TREX) has been given a consensus recommendation of “Hold” by the seventeen research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $79.94.

A number of equities research analysts have recently issued reports on TREX shares. BMO Capital Markets lifted their price target on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Robert W. Baird lifted their price target on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. reduced their price target on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. DA Davidson lifted their price target on shares of Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, Loop Capital cut shares of Trex from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $95.00 to $75.00 in a research note on Wednesday, August 7th.

Institutional Trading of Trex

Several hedge funds and other institutional investors have recently bought and sold shares of TREX. Wasatch Advisors LP grew its stake in Trex by 33.2% in the 3rd quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after acquiring an additional 1,015,516 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in Trex by 6,093.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 853,620 shares of the construction company’s stock worth $56,834,000 after acquiring an additional 839,837 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Trex by 100.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,022,459 shares of the construction company’s stock valued at $68,075,000 after buying an additional 511,163 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Trex by 462.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,146 shares of the construction company’s stock valued at $35,231,000 after buying an additional 435,055 shares during the period. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Trex during the 3rd quarter valued at $20,600,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Stock Up 2.7 %

Shares of NYSE:TREX opened at $72.24 on Friday. The company has a market cap of $7.74 billion, a P/E ratio of 32.99, a PEG ratio of 3.20 and a beta of 1.49. Trex has a 52 week low of $58.68 and a 52 week high of $101.91. The company has a 50-day moving average price of $67.81 and a 200 day moving average price of $73.59.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. During the same period last year, the firm earned $0.57 EPS. The company’s revenue for the quarter was down 23.1% on a year-over-year basis. Analysts expect that Trex will post 2.05 EPS for the current year.

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.