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

Trex Company, Inc. (NYSE:TREX) has received an average rating of “Hold” from the seventeen research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $76.65.

TREX has been the topic of a number of research reports. Stephens reduced their price objective on Trex from $73.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, May 12th. Deutsche Bank Aktiengesellschaft initiated coverage on Trex in a report on Tuesday, April 1st. They set a “buy” rating and a $85.00 price target on the stock. Bank of America lowered their price objective on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. BMO Capital Markets upgraded shares of Trex from a “market perform” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Thursday, April 17th. Finally, Barclays decreased their price target on shares of Trex from $67.00 to $54.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th.

Insider Buying and Selling at Trex

In related news, SVP Jacob T. Rudolph sold 1,500 shares of Trex stock in a transaction 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 sale, the senior vice president now owns 27,527 shares of the company’s stock, valued at approximately $1,659,052.29. This trade represents a 5.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Amy M. Fernandez sold 2,366 shares of Trex 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 transaction, the senior vice president now owns 24,569 shares of the company’s stock, valued at $1,502,885.73. This trade represents a 8.78% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in Trex by 8.8% in the third quarter. Barclays PLC now owns 149,623 shares of the construction company’s stock worth $9,961,000 after purchasing an additional 12,085 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Trex by 32.7% during the 4th quarter. Blue Trust Inc. now owns 2,348 shares of the construction company’s stock worth $156,000 after purchasing an additional 579 shares during the period. Boston Trust Walden Corp purchased a new position in shares of Trex in the 4th quarter worth about $207,000. Trust Point Inc. purchased a new position in shares of Trex in the 4th quarter worth about $231,000. Finally, Mather Group LLC. grew its position in Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after buying an additional 191 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Trading Up 3.6%

Shares of NYSE TREX opened at $55.48 on Wednesday. The company has a market cap of $5.95 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 2.51 and a beta of 1.62. Trex has a 12 month low of $49.01 and a 12 month high of $87.43. The stock has a 50-day moving average price of $57.04 and a two-hundred day moving average price of $64.35.

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

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.