Brokerages Set Trex Company Inc (TREX) Price Target at $85.29

Shares of Trex Company Inc (NYSE:TREX) have received an average rating of “Hold” from the ten research firms that are currently covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $85.29.

Several brokerages recently commented on TREX. Stifel Nicolaus reduced their price target on Trex from $100.00 to $89.00 and set a “hold” rating for the company in a research report on Friday, December 8th. Zacks Investment Research cut Trex from a “buy” rating to a “hold” rating in a research report on Saturday, November 11th. B. Riley reaffirmed a “hold” rating and issued a $96.00 price objective on shares of Trex in a research report on Wednesday, November 8th. SunTrust Banks reaffirmed a “hold” rating and issued a $95.00 price objective on shares of Trex in a research report on Wednesday, November 1st. Finally, FBR & Co raised their price objective on Trex from $80.00 to $96.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st.

In related news, VP Jay T. Scripter sold 1,116 shares of Trex stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $108.59, for a total transaction of $121,186.44. Following the completion of the sale, the vice president now directly owns 14,212 shares of the company’s stock, valued at approximately $1,543,281.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard E. Posey sold 2,322 shares of Trex stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $111.19, for a total value of $258,183.18. Following the sale, the director now directly owns 11,591 shares of the company’s stock, valued at $1,288,803.29. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,014 shares of company stock valued at $764,529. Insiders own 0.95% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Bamco Inc. NY lifted its holdings in Trex by 4.4% during the 3rd quarter. Bamco Inc. NY now owns 1,185,205 shares of the construction company’s stock worth $106,751,000 after purchasing an additional 49,870 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Trex during the 2nd quarter worth approximately $76,849,000. Eagle Asset Management Inc. lifted its holdings in Trex by 4.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 975,160 shares of the construction company’s stock worth $85,258,000 after purchasing an additional 42,214 shares during the last quarter. Wasatch Advisors Inc. lifted its holdings in Trex by 9.6% during the 2nd quarter. Wasatch Advisors Inc. now owns 946,311 shares of the construction company’s stock worth $64,027,000 after purchasing an additional 83,274 shares during the last quarter. Finally, State Street Corp lifted its holdings in Trex by 4.7% during the 2nd quarter. State Street Corp now owns 724,301 shares of the construction company’s stock worth $49,003,000 after purchasing an additional 32,626 shares during the last quarter. 88.92% of the stock is owned by institutional investors and hedge funds.

Shares of Trex (TREX) traded up $0.72 during midday trading on Monday, reaching $109.11. The company had a trading volume of 196,856 shares, compared to its average volume of 234,993. Trex has a 1 year low of $61.57 and a 1 year high of $118.65. The firm has a market capitalization of $3,121.98, a PE ratio of 35.02 and a beta of 2.43.

Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, October 30th. The construction company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. Trex had a return on equity of 51.30% and a net margin of 16.61%. The firm had revenue of $140.19 million during the quarter, compared to analysts’ expectations of $125.30 million. During the same period in the prior year, the firm posted $0.26 earnings per share. The business’s quarterly revenue was up 32.0% compared to the same quarter last year. equities analysts forecast that Trex will post 3.11 earnings per share for the current year.

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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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