Trex Company Inc (TREX) Given Average Recommendation of “Hold” by Brokerages

Shares of Trex Company Inc (NYSE:TREX) have earned an average recommendation of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $27.95.

Separately, Sidoti lowered shares of Trex from a “buy” rating to a “neutral” rating in a research note on Friday, August 10th.

In other news, VP Jay T. Scripter sold 11,812 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $78.34, for a total transaction of $925,352.08. Following the completion of the sale, the vice president now owns 37,696 shares in the company, valued at approximately $2,953,104.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank H. Merlotti, Jr. sold 3,051 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $77.39, for a total transaction of $236,116.89. Following the sale, the director now owns 24,242 shares of the company’s stock, valued at approximately $1,876,088.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,175 shares of company stock valued at $2,057,493. Company insiders own 0.95% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. SG Capital Management LLC bought a new position in Trex in the 3rd quarter worth approximately $9,063,000. First Citizens Bank & Trust Co. bought a new position in Trex in the 3rd quarter valued at $204,000. Seven Eight Capital LP bought a new position in Trex in the 3rd quarter valued at $408,000. Aperio Group LLC boosted its holdings in Trex by 2.3% in the 3rd quarter. Aperio Group LLC now owns 53,269 shares of the construction company’s stock valued at $4,101,000 after purchasing an additional 1,193 shares during the period. Finally, DAVENPORT & Co LLC bought a new position in Trex in the 3rd quarter valued at $212,000. Institutional investors own 89.60% of the company’s stock.

NYSE TREX traded down $0.71 during trading hours on Friday, hitting $60.91. The company’s stock had a trading volume of 6,011 shares, compared to its average volume of 544,936. Trex has a 52 week low of $42.56 and a 52 week high of $90.74. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 38.39 and a beta of 2.39.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, July 30th. The construction company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.08. The business had revenue of $206.69 million for the quarter, compared to analysts’ expectations of $190.80 million. Trex had a net margin of 18.48% and a return on equity of 46.45%. The firm’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 EPS. As a group, equities analysts predict that Trex will post 2.35 EPS for the current fiscal year.

Trex Company Profile

Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.

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Analyst Recommendations for Trex (NYSE:TREX)

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