Trex (NYSE:TREX) Price Target Raised to $47.00

Trex (NYSE:TREX) had its price objective lifted by Stifel Nicolaus from $44.00 to $47.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have a hold rating on the construction company’s stock.

Several other equities research analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $51.00 target price (up from $41.00) on shares of Trex in a research report on Tuesday. UBS Group reiterated a “buy” rating and set a $59.00 price target (up from $58.00) on shares of Trex in a research note on Friday, May 8th. Weiss Ratings raised Trex from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. DA Davidson reissued a “buy” rating and issued a $51.00 price objective on shares of Trex in a research note on Friday, June 5th. Finally, Zelman & Associates raised Trex from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Monday, May 18th. Ten investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $49.00.

Trex Stock Up 4.8%

NYSE TREX opened at $45.73 on Tuesday. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 5.05 and a beta of 1.46. Trex has a 52 week low of $29.77 and a 52 week high of $68.78. The business has a 50 day moving average price of $43.74 and a 200-day moving average price of $41.28.

Trex (NYSE:TREX) last issued its earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. Trex had a return on equity of 19.66% and a net margin of 16.25%.The company had revenue of $343.40 million for the quarter, compared to analysts’ expectations of $339.99 million. During the same period last year, the business earned $0.60 EPS. Trex’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Trex will post 1.77 earnings per share for the current year.

Insider Activity

In other Trex news, SVP Jacob T. Rudolph sold 1,400 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $50.00, for a total value of $70,000.00. Following the completion of the sale, the senior vice president directly owned 36,631 shares of the company’s stock, valued at $1,831,550. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in Trex by 266.0% in the 4th quarter. Wellington Management Group LLP now owns 7,225,393 shares of the construction company’s stock valued at $253,467,000 after buying an additional 5,251,297 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Trex by 143.8% during the fourth quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company’s stock worth $136,655,000 after acquiring an additional 2,297,533 shares in the last quarter. Morgan Stanley lifted its position in shares of Trex by 44.6% during the fourth quarter. Morgan Stanley now owns 2,313,285 shares of the construction company’s stock worth $81,150,000 after acquiring an additional 713,054 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Trex by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,913,263 shares of the construction company’s stock worth $67,132,000 after acquiring an additional 24,892 shares during the period. Finally, Norges Bank bought a new position in shares of Trex in the fourth quarter worth $62,904,000. Institutional investors own 95.96% of the company’s stock.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.