Brokerages Set Trex Company, Inc. (NYSE:TREX) Price Target at $77.06

Shares of Trex Company, Inc. (NYSE:TREX - Get Free Report) have been given an average rating of "Hold" by the seventeen research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $76.65.

TREX has been the topic of several research analyst reports. Stephens cut their price objective on Trex from $73.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday. BMO Capital Markets raised shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price target for the company in a research report on Thursday, April 17th. UBS Group reduced their price target on shares of Trex from $74.00 to $72.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Bank of America reduced their target price on shares of Trex from $85.00 to $79.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Trex in a report on Tuesday, April 1st. They issued a "buy" rating and a $85.00 target price for the company.

Trex Price Performance

TREX stock traded up $0.18 during trading on Friday, hitting $60.55. 134,644 shares of the company traded hands, compared to its average volume of 1,342,612. The stock's 50-day simple moving average is $57.19 and its 200 day simple moving average is $65.71. The company has a market cap of $6.49 billion, a PE ratio of 27.64, a P/E/G ratio of 2.51 and a beta of 1.62. Trex has a 1 year low of $49.01 and a 1 year high of $92.02.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. The firm had revenue of $339.99 million for the quarter, compared to analyst estimates of $329.11 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business's revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. Research analysts expect that Trex will post 2.04 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Amy M. Fernandez sold 2,366 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $61.17, for a total transaction of $144,728.22. Following the sale, the senior vice president now owns 24,569 shares in the company, valued at approximately $1,502,885.73. This trade represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Melkeya Mcduffie sold 1,420 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the sale, the director now owns 1,705 shares in the company, valued at approximately $105,505.40. This trade represents a 45.44% decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On Trex

Large investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new position in Trex during the third quarter worth approximately $30,000. Mather Group LLC. raised its stake in Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock worth $31,000 after purchasing an additional 191 shares during the period. Avior Wealth Management LLC raised its stake in Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock worth $35,000 after purchasing an additional 473 shares during the period. Huntington National Bank raised its stake in Trex by 227.2% during the fourth quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after purchasing an additional 393 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new position in Trex during the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 95.96% of the company's stock.

About Trex

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.