Analysts Set Trex Company, Inc. (NYSE:TREX) Price Target at $79.54

Shares of Trex Company, Inc. (NYSE:TREX) have been given a consensus recommendation of “Hold” by the eighteen brokerages that are presently covering the firm, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $81.90.

Several equities analysts have issued reports on the stock. Truist upped their price target on shares of Trex from $73.00 to $100.00 in a research report on Tuesday, February 23rd. BMO Capital Markets began coverage on shares of Trex in a research report on Wednesday, January 13th. They issued a “market perform” rating and a $90.00 price target for the company. DA Davidson increased their price objective on shares of Trex from $75.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, March 1st. Robert W. Baird increased their price objective on shares of Trex from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, March 1st. Finally, Zacks Investment Research cut shares of Trex from a “buy” rating to a “hold” rating in a research report on Friday, February 26th.

In other Trex news, Director James E. Cline sold 12,588 shares of the firm’s stock in a transaction on Wednesday, February 24th. The shares were sold at an average price of $92.13, for a total value of $1,159,732.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Bryan Horix Fairbanks sold 4,000 shares of the firm’s stock in a transaction on Wednesday, February 24th. The shares were sold at an average price of $92.02, for a total transaction of $368,080.00. The disclosure for this sale can be found here. Insiders sold 20,280 shares of company stock worth $1,860,572 over the last ninety days. Insiders own 0.79% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the business. Perigon Wealth Management LLC bought a new position in shares of Trex during the fourth quarter valued at about $27,000. HM Payson & Co. lifted its position in shares of Trex by 100.0% during the third quarter. HM Payson & Co. now owns 400 shares of the construction company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Tompkins Financial Corp bought a new position in shares of Trex during the fourth quarter valued at about $31,000. Graves Light Private Wealth Management Inc. bought a new position in shares of Trex during the fourth quarter valued at about $33,000. Finally, Montag A & Associates Inc. bought a new position in shares of Trex during the fourth quarter valued at about $39,000. 98.56% of the stock is currently owned by hedge funds and other institutional investors.

NYSE TREX traded up $0.38 on Thursday, hitting $95.12. The company’s stock had a trading volume of 729,756 shares, compared to its average volume of 789,261. Trex has a 1-year low of $37.97 and a 1-year high of $107.64. The company’s 50-day moving average is $93.52 and its 200 day moving average is $84.64. The firm has a market cap of $11.02 billion, a PE ratio of 65.81 and a beta of 1.46.

Trex (NYSE:TREX) last announced its quarterly earnings results on Sunday, February 21st. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Trex had a net margin of 20.53% and a return on equity of 35.52%. The firm had revenue of $228.29 million during the quarter, compared to analysts’ expectations of $215.99 million. During the same period in the prior year, the company posted $0.31 EPS. The company’s revenue was up 38.5% on a year-over-year basis. As a group, research analysts expect that Trex will post 1.54 earnings per share for the current fiscal year.

About Trex

Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

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