Brokerages Set Trex Company, Inc. (NYSE:TREX) Price Target at $79.81

Shares of Trex Company, Inc. (NYSE:TREX - Get Free Report) have received a consensus recommendation of "Hold" from the sixteen research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $79.81.

TREX has been the subject of a number of recent analyst reports. Barclays dropped their price objective on Trex from $68.00 to $67.00 and set an "underweight" rating for the company in a report on Tuesday, October 29th. BMO Capital Markets increased their price target on shares of Trex from $67.00 to $72.00 and gave the company a "market perform" rating in a research report on Tuesday, October 29th. Citigroup decreased their price objective on shares of Trex from $84.00 to $78.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Robert W. Baird increased their target price on shares of Trex from $70.00 to $78.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. Finally, DA Davidson boosted their price target on shares of Trex from $70.00 to $74.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th.

Trex Stock Performance

NYSE:TREX traded up $1.47 on Thursday, hitting $74.08. 1,441,737 shares of the stock were exchanged, compared to its average volume of 996,376. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 33.82, a P/E/G ratio of 3.06 and a beta of 1.50. Trex has a 52 week low of $58.68 and a 52 week high of $101.91. The company's 50-day moving average price is $72.50 and its 200 day moving average price is $70.07.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The business had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Trex's revenue was down 23.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 earnings per share. As a group, equities research analysts predict that Trex will post 2.05 earnings per share for the current year.

Institutional Trading of Trex

Several institutional investors and hedge funds have recently added to or reduced their stakes in TREX. Bank of Montreal Can boosted its stake in shares of Trex by 147.5% during the 2nd quarter. Bank of Montreal Can now owns 36,671 shares of the construction company's stock worth $2,718,000 after acquiring an additional 21,852 shares during the period. Millennium Management LLC lifted its position in Trex by 354.7% during the second quarter. Millennium Management LLC now owns 206,206 shares of the construction company's stock worth $15,284,000 after acquiring an additional 160,853 shares during the last quarter. Creative Planning boosted its holdings in shares of Trex by 0.7% during the second quarter. Creative Planning now owns 60,284 shares of the construction company's stock worth $4,468,000 after acquiring an additional 412 shares during the period. Quarry LP grew its position in shares of Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company's stock valued at $45,000 after purchasing an additional 513 shares during the last quarter. Finally, Truist Financial Corp increased its stake in shares of Trex by 15.0% during the second quarter. Truist Financial Corp now owns 3,949 shares of the construction company's stock worth $293,000 after purchasing an additional 515 shares during the period. 95.96% of the stock is owned by institutional investors.

Trex Company Profile

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.