Brokerages Set Trex Company, Inc. (NYSE:TREX) PT at $69.20

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

A number of brokerages have issued reports on TREX. Zacks Investment Research upgraded Trex from a “hold” rating to a “strong-buy” rating and set a $89.00 target price on the stock in a report on Thursday, August 3rd. Stifel Nicolaus restated a “hold” rating and set a $75.00 target price on shares of Trex in a report on Thursday, August 3rd. Griffin Securities cut Trex from a “buy” rating to a “neutral” rating in a report on Tuesday, August 1st. FBR & Co raised their target price on Trex from $69.00 to $80.00 and gave the stock a “mkt perform” rating in a report on Tuesday, August 1st. Finally, BidaskClub upgraded Trex from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st.

In related news, VP Christopher Paul Gerhard sold 3,920 shares of Trex stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $79.69, for a total value of $312,384.80. Following the sale, the vice president now owns 26,560 shares of the company’s stock, valued at approximately $2,116,566.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Bryan Horix Fairbanks sold 2,000 shares of Trex stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $75.43, for a total value of $150,860.00. Following the completion of the sale, the chief financial officer now directly owns 18,167 shares in the company, valued at approximately $1,370,336.81. The disclosure for this sale can be found here. Insiders have sold a total of 14,644 shares of company stock worth $1,117,992 in the last quarter. 0.95% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of TREX. Creative Planning raised its position in Trex by 17.8% in the first quarter. Creative Planning now owns 6,053 shares of the construction company’s stock valued at $420,000 after buying an additional 916 shares during the period. Thrivent Financial for Lutherans raised its position in Trex by 6.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,820 shares of the construction company’s stock valued at $1,019,000 after buying an additional 990 shares during the period. Guggenheim Capital LLC raised its position in Trex by 63.3% in the fourth quarter. Guggenheim Capital LLC now owns 41,472 shares of the construction company’s stock valued at $2,671,000 after buying an additional 16,080 shares during the period. Mason Street Advisors LLC raised its position in Trex by 7.0% in the first quarter. Mason Street Advisors LLC now owns 6,871 shares of the construction company’s stock valued at $477,000 after buying an additional 448 shares during the period. Finally, Vanguard Group Inc. raised its position in Trex by 6.5% in the first quarter. Vanguard Group Inc. now owns 3,251,958 shares of the construction company’s stock valued at $225,653,000 after buying an additional 197,846 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Trex (NYSE TREX) opened at 75.85 on Friday. Trex has a 52 week low of $50.81 and a 52 week high of $82.04. The stock has a market capitalization of $2.23 billion, a P/E ratio of 29.08 and a beta of 2.36. The company’s 50-day moving average is $72.24 and its 200 day moving average is $69.23.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, July 31st. The construction company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. The business had revenue of $158 million for 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 firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 earnings per share. On average, equities analysts forecast that Trex will post $2.99 EPS for the current fiscal year.

About Trex

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.

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