DA Davidson Reiterates "Neutral" Rating for Trex (NYSE:TREX)

Trex (NYSE:TREX - Get Free Report)'s stock had its "neutral" rating reiterated by DA Davidson in a report issued on Tuesday,Benzinga reports. They presently have a $74.00 price target on the construction company's stock. DA Davidson's target price points to a potential upside of 19.93% from the company's previous close. DA Davidson also issued estimates for Trex's Q1 2025 earnings at $0.54 EPS and FY2026 earnings at $2.52 EPS.

Several other research firms have also issued reports on TREX. Robert W. Baird lifted their price target on shares of Trex from $70.00 to $78.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. StockNews.com cut Trex from a "hold" rating to a "sell" rating in a research report on Tuesday, October 29th. Citigroup reduced their target price on Trex from $84.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. BMO Capital Markets raised their price target on Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a report on Tuesday, October 29th. Finally, Bank of America cut their price objective on shares of Trex from $85.00 to $79.00 and set a "buy" rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $78.38.

Trex Stock Up 2.3 %

Shares of NYSE TREX traded up $1.38 during mid-day trading on Tuesday, reaching $61.71. 1,719,540 shares of the company were exchanged, compared to its average volume of 1,357,345. Trex has a 1 year low of $58.68 and a 1 year high of $100.77. The firm has a 50-day moving average of $69.13 and a 200 day moving average of $68.64. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 28.18, a P/E/G ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. On average, equities analysts forecast that Trex will post 2.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the transaction, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.71% of the company's stock.

Hedge Funds Weigh In On Trex

A number of hedge funds have recently modified their holdings of TREX. Alliancebernstein L.P. raised its stake in shares of Trex by 54.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock valued at $746,858,000 after acquiring an additional 3,818,025 shares during the period. Wasatch Advisors LP grew its stake in shares of Trex by 12.8% in the fourth quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company's stock valued at $317,505,000 after buying an additional 523,113 shares in the last quarter. State Street Corp lifted its stake in Trex by 1.2% during the 3rd quarter. State Street Corp now owns 3,183,444 shares of the construction company's stock worth $211,954,000 after acquiring an additional 37,436 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Trex by 463.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company's stock valued at $216,400,000 after acquiring an additional 2,578,734 shares during the period. Finally, Bamco Inc. NY grew its position in Trex by 6.2% in the 4th quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company's stock valued at $148,631,000 after acquiring an additional 126,441 shares in the last quarter. 95.96% of the stock is currently owned by hedge funds and other 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.