Trex Company, Inc. (TREX) Receives $75.20 Consensus Price Target from Analysts

Trex Company, Inc. (NYSE:TREX) has received an average rating of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $75.20.

TREX has been the subject of several research analyst reports. Griffin Securities cut Trex from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 1st. FBR & Co increased their target price on Trex from $69.00 to $80.00 and gave the company a “mkt perform” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Seaport Global Securities upgraded Trex from a “neutral” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Thursday, June 1st. Finally, BidaskClub cut Trex from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 22nd.

Shares of Trex (NYSE TREX) traded up 1.22% during mid-day trading on Friday, hitting $79.88. 339,354 shares of the stock traded hands. Trex has a one year low of $50.81 and a one year high of $82.04. The stock has a market cap of $2.35 billion, a PE ratio of 30.63 and a beta of 2.32. The stock has a 50-day moving average of $76.02 and a 200 day moving average of $70.33.

Trex (NYSE:TREX) last released its earnings results on Monday, July 31st. The construction company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.09. The company had revenue of $158.00 million during the quarter, compared to analysts’ expectations of $160.40 million. Trex had a return on equity of 56.76% and a net margin of 15.12%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 EPS. Equities analysts predict that Trex will post $2.99 EPS for the current fiscal year.

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In related news, CFO Bryan Horix Fairbanks sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $75.43, for a total transaction of $150,860.00. Following the transaction, the chief financial officer now directly owns 18,167 shares in the company, valued at $1,370,336.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard E. Posey sold 3,167 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $80.00, for a total value of $253,360.00. Following the transaction, the director now owns 11,795 shares in the company, valued at $943,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,680 shares of company stock valued at $1,145,196. Company insiders own 0.95% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in TREX. Teachers Advisors LLC lifted its stake in Trex by 6.5% during the fourth quarter. Teachers Advisors LLC now owns 50,022 shares of the construction company’s stock worth $3,221,000 after purchasing an additional 3,044 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Trex by 39.0% during the first quarter. Nisa Investment Advisors LLC now owns 4,170 shares of the construction company’s stock worth $289,000 after purchasing an additional 1,170 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Trex by 154.8% during the first quarter. Russell Investments Group Ltd. now owns 4,916 shares of the construction company’s stock worth $341,000 after purchasing an additional 2,987 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Trex by 6.4% during the first quarter. Great West Life Assurance Co. Can now owns 40,800 shares of the construction company’s stock worth $2,831,000 after purchasing an additional 2,447 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Trex by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 402,015 shares of the construction company’s stock worth $27,897,000 after purchasing an additional 1,536 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Trex Company Profile

Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.

Analyst Recommendations for Trex (NYSE:TREX)

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