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Brokerages Set Trex Company, Inc. (NYSE:TREX) Price Target at $74.88

Trex logo with Construction background

Shares of Trex Company, Inc. (NYSE:TREX - Get Free Report) have received an average rating of "Moderate Buy" from the seventeen research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, seven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $74.88.

Several analysts have recently issued reports on the company. Robert W. Baird raised Trex from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $65.00 to $75.00 in a report on Thursday, July 10th. Barclays decreased their price objective on Trex from $67.00 to $54.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Citigroup decreased their price objective on Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. B. Riley raised Trex to a "strong-buy" rating in a report on Monday. Finally, Loop Capital upped their price objective on Trex from $62.00 to $66.00 and gave the stock a "hold" rating in a report on Thursday, July 10th.

Read Our Latest Research Report on Trex

Trex Stock Up 0.9%

TREX stock traded up $0.62 during midday trading on Thursday, hitting $68.46. The company's stock had a trading volume of 1,118,687 shares, compared to its average volume of 1,601,168. Trex has a 12 month low of $49.01 and a 12 month high of $86.56. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 37.62, a price-to-earnings-growth ratio of 2.84 and a beta of 1.50. The company has a 50 day moving average of $58.18 and a two-hundred day moving average of $60.67.

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, topping the consensus estimate of $0.58 by $0.02. Trex had a return on equity of 22.78% and a net margin of 17.69%. The business had revenue of $339.99 million during the quarter, compared to the consensus estimate of $329.11 million. During the same period in the prior year, the company posted $0.82 EPS. The firm's revenue for the quarter was down 9.0% compared to the same quarter last year. On average, analysts anticipate that Trex will post 2.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Jacob T. Rudolph sold 1,500 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the transaction, the senior vice president owned 27,527 shares of the company's stock, valued at approximately $1,659,052.29. This represents a 5.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Amy M. Fernandez sold 2,366 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $61.17, for a total value of $144,728.22. Following the transaction, the senior vice president directly owned 24,569 shares in the company, valued at $1,502,885.73. The trade was a 8.78% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.71% of the company's stock.

Institutional Investors Weigh In On Trex

A number of institutional investors have recently added to or reduced their stakes in TREX. HighTower Advisors LLC boosted its position in Trex by 13.4% during the fourth quarter. HighTower Advisors LLC now owns 15,209 shares of the construction company's stock valued at $1,050,000 after purchasing an additional 1,796 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Trex by 8.6% in the fourth quarter. Corient Private Wealth LLC now owns 3,897 shares of the construction company's stock worth $269,000 after acquiring an additional 309 shares in the last quarter. Sei Investments Co. grew its stake in shares of Trex by 18.8% during the fourth quarter. Sei Investments Co. now owns 421,489 shares of the construction company's stock worth $29,095,000 after acquiring an additional 66,661 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Trex during the fourth quarter worth about $1,519,000. Finally, LPL Financial LLC increased its holdings in shares of Trex by 28.4% during the fourth quarter. LPL Financial LLC now owns 127,457 shares of the construction company's stock valued at $8,798,000 after acquiring an additional 28,176 shares in the last quarter. Institutional investors own 95.96% of the company's stock.

Trex Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Trex (NYSE:TREX)

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