Analysts Set Trex Company, Inc. (TREX) Target Price at $85.29
Shares of Trex Company, Inc. (NYSE:TREX) have received a consensus recommendation of “Hold” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $85.29.
A number of research analysts recently commented on the company. Zacks Investment Research cut Trex from a “buy” rating to a “hold” rating in a research report on Saturday, November 11th. B. Riley restated a “hold” rating and issued a $96.00 price target on shares of Trex in a research report on Wednesday, November 8th. SunTrust Banks, Inc. restated a “hold” rating and issued a $95.00 price target on shares of Trex in a research report on Wednesday, November 1st. Stifel Nicolaus restated a “hold” rating and issued a $89.00 price target on shares of Trex in a research report on Wednesday, November 1st. Finally, FBR & Co raised their price target on Trex from $80.00 to $96.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st.
In related news, VP Jay T. Scripter sold 1,116 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $108.59, for a total value of $121,186.44. Following the sale, the vice president now directly owns 14,212 shares of the company’s stock, valued at $1,543,281.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank H. Merlotti, Jr. sold 2,158 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $105.51, for a total value of $227,690.58. The disclosure for this sale can be found here. Company insiders own 0.95% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its stake in shares of Trex by 352.7% during the third quarter. Bessemer Group Inc. now owns 1,435 shares of the construction company’s stock valued at $129,000 after purchasing an additional 1,118 shares in the last quarter. Greenwood Capital Associates LLC acquired a new stake in shares of Trex during the third quarter valued at about $202,000. Riverhead Capital Management LLC boosted its stake in shares of Trex by 91.5% during the second quarter. Riverhead Capital Management LLC now owns 2,298 shares of the construction company’s stock valued at $156,000 after purchasing an additional 1,098 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Trex during the third quarter valued at about $212,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Trex during the third quarter valued at about $219,000. 91.95% of the stock is currently owned by institutional investors and hedge funds.
Shares of Trex (TREX) traded up $0.75 during midday trading on Thursday, hitting $112.30. The company had a trading volume of 75,097 shares, compared to its average volume of 270,364. Trex has a 52 week low of $61.57 and a 52 week high of $113.84. The company has a market capitalization of $3,304.43, a PE ratio of 37.06 and a beta of 2.41.
Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, October 30th. The construction company reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.13. Trex had a return on equity of 51.30% and a net margin of 16.61%. The company had revenue of $140.19 million for the quarter, compared to analysts’ expectations of $125.30 million. During the same quarter last year, the business earned $0.26 earnings per share. Trex’s revenue was up 32.0% on a year-over-year basis. sell-side analysts predict that Trex will post 3.11 EPS for the current year.
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Trex Company Profile
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.
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