Trex Company Inc (TREX) Given Average Recommendation of “Hold” by Brokerages

Trex Company Inc (NYSE:TREX) has earned a consensus rating of “Hold” from the six research firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $39.00.

Several analysts have issued reports on TREX shares. Sidoti downgraded shares of Trex from a “buy” rating to a “neutral” rating in a research note on Friday, August 10th. SunTrust Banks decreased their price objective on shares of Trex to $58.00 and set a “hold” rating for the company in a research note on Tuesday, October 30th. Finally, Zacks Investment Research downgraded shares of Trex from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st.

Shares of NYSE:TREX traded up $0.08 during trading on Monday, reaching $62.71. The company’s stock had a trading volume of 1,505,161 shares, compared to its average volume of 525,867. Trex has a 12 month low of $50.72 and a 12 month high of $90.74. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 39.69 and a beta of 2.27.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, October 29th. The construction company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.05. The firm had revenue of $166.38 million during the quarter, compared to the consensus estimate of $173.10 million. Trex had a net margin of 19.16% and a return on equity of 46.55%. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 EPS. As a group, equities research analysts predict that Trex will post 2.29 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in TREX. PNC Financial Services Group Inc. increased its position in shares of Trex by 2.7% during the third quarter. PNC Financial Services Group Inc. now owns 30,998 shares of the construction company’s stock worth $2,385,000 after acquiring an additional 813 shares during the period. American International Group Inc. increased its position in shares of Trex by 1.9% during the third quarter. American International Group Inc. now owns 46,382 shares of the construction company’s stock worth $3,570,000 after acquiring an additional 858 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Trex by 4.9% during the third quarter. Janney Montgomery Scott LLC now owns 19,356 shares of the construction company’s stock worth $1,490,000 after acquiring an additional 900 shares during the period. Advisory Services Network LLC increased its position in shares of Trex by 100.0% during the second quarter. Advisory Services Network LLC now owns 2,000 shares of the construction company’s stock worth $133,000 after acquiring an additional 1,000 shares during the period. Finally, Aperio Group LLC increased its position in shares of Trex by 2.3% during the third quarter. Aperio Group LLC now owns 53,269 shares of the construction company’s stock worth $4,101,000 after acquiring an additional 1,193 shares during the period. 89.62% of the stock is owned by institutional investors and hedge funds.

About Trex

Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.

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