Trex Company, Inc. (NYSE:TREX) Given Consensus Rating of “Hold” by Analysts

Shares of Trex Company, Inc. (NYSE:TREX) have received an average recommendation of “Hold” from the sixteen ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $79.94.

Several analysts have commented on TREX shares. Barclays reduced their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research note on Tuesday, October 29th. Jefferies Financial Group cut their price target on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. BMO Capital Markets lifted their price objective on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Finally, DA Davidson raised their target price on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th.

Hedge Funds Weigh In On Trex

Several hedge funds have recently bought and sold shares of the company. OFI Invest Asset Management purchased a new position in shares of Trex in the second quarter valued at $726,000. Wealth Enhancement Advisory Services LLC grew its stake in Trex by 69.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 27,967 shares of the construction company’s stock valued at $2,073,000 after acquiring an additional 11,455 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Trex during the 2nd quarter valued at about $19,475,000. L & S Advisors Inc acquired a new position in Trex during the third quarter worth about $1,000,000. Finally, Algert Global LLC lifted its holdings in shares of Trex by 81.3% in the third quarter. Algert Global LLC now owns 86,300 shares of the construction company’s stock valued at $5,746,000 after purchasing an additional 38,700 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Trading Down 1.0 %

Shares of NYSE TREX opened at $76.86 on Wednesday. The stock has a market cap of $8.23 billion, a P/E ratio of 35.10, a P/E/G ratio of 3.50 and a beta of 1.49. Trex has a twelve month low of $58.68 and a twelve month high of $101.91. The stock has a 50 day moving average of $70.78 and a two-hundred day moving average of $71.89.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. During the same quarter in the prior year, the firm earned $0.57 EPS. Trex’s revenue for the quarter was down 23.1% on a year-over-year basis. As a group, research analysts predict that Trex will post 2.05 earnings per share for the current year.

Trex Company Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.