Trex Company, Inc. (NYSE:TREX) Given Consensus Rating of "Hold" by Brokerages

Shares of Trex Company, Inc. (NYSE:TREX - Get Free Report) have received a consensus recommendation of "Hold" from the seventeen ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $76.65.

TREX has been the subject of a number of recent research reports. Barclays lowered their target price on Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Wall Street Zen cut shares of Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. Benchmark reissued a "buy" rating and issued a $80.00 price objective on shares of Trex in a research note on Monday, May 12th. Citigroup decreased their target price on shares of Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a research note on Wednesday, March 5th.

Insider Activity at Trex

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $61.17, for a total value of $144,728.22. Following the completion of the sale, the senior vice president directly owned 24,569 shares of the company's stock, valued at approximately $1,502,885.73. This represents a 8.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jacob T. Rudolph sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.27, for a total value of $90,405.00. Following the completion of the transaction, the senior vice president directly owned 27,527 shares of the company's stock, valued at approximately $1,659,052.29. This represents a 5.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Trex by 132.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,297,863 shares of the construction company's stock worth $424,007,000 after buying an additional 4,163,014 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Trex by 54.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock worth $746,858,000 after purchasing an additional 3,818,025 shares during the last quarter. Madison Asset Management LLC bought a new stake in shares of Trex in the 1st quarter worth approximately $109,852,000. Anomaly Capital Management LP raised its holdings in shares of Trex by 228.2% in the 4th quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company's stock worth $104,427,000 after purchasing an additional 1,051,888 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in Trex by 86.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company's stock valued at $140,064,000 after purchasing an additional 939,960 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company's stock.

Trex Trading Up 2.8%

Trex stock traded up $1.61 during trading hours on Friday, reaching $59.29. 1,174,520 shares of the stock were exchanged, compared to its average volume of 1,435,805. Trex has a twelve month low of $49.01 and a twelve month high of $86.56. The company has a market cap of $6.36 billion, a P/E ratio of 32.58, a price-to-earnings-growth ratio of 2.30 and a beta of 1.50. The stock has a 50 day moving average of $57.08 and a two-hundred day moving average of $61.66.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The company had revenue of $339.99 million for the quarter, compared to the consensus estimate of $329.11 million. Trex had a net margin of 17.69% and a return on equity of 22.78%. The firm's quarterly revenue was down 9.0% compared to the same quarter last year. During the same period last year, the company posted $0.82 EPS. On average, analysts expect that Trex will post 2.04 earnings per share for the current fiscal 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.