Trex Company, Inc. (NYSE:TREX) Receives $79.81 Consensus Target Price from Brokerages

Shares of Trex Company, Inc. (NYSE:TREX) have been given a consensus recommendation of “Hold” by the sixteen brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $79.81.

Several equities research analysts recently commented on TREX shares. Robert W. Baird boosted their target price on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Barclays dropped their target price on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Jefferies Financial Group dropped their target price on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Citigroup dropped their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, BMO Capital Markets upped their price target on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th.

Trex Trading Down 1.2 %

TREX opened at $71.97 on Thursday. The business’s 50 day moving average is $72.49 and its 200-day moving average is $69.75. The stock has a market cap of $7.71 billion, a PE ratio of 32.86, a price-to-earnings-growth ratio of 2.80 and a beta of 1.51. Trex has a twelve month low of $58.68 and a twelve month high of $101.91.

Hedge Funds Weigh In On Trex

Large investors have recently bought and sold shares of the business. First Horizon Advisors Inc. grew its position in Trex by 16.0% in the fourth quarter. First Horizon Advisors Inc. now owns 2,648 shares of the construction company’s stock valued at $183,000 after purchasing an additional 366 shares in the last quarter. Alberta Investment Management Corp lifted its stake in shares of Trex by 10.3% during the 4th quarter. Alberta Investment Management Corp now owns 7,320 shares of the construction company’s stock worth $505,000 after buying an additional 685 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Trex by 14.0% during the 4th quarter. Global Retirement Partners LLC now owns 3,806 shares of the construction company’s stock worth $263,000 after buying an additional 467 shares during the last quarter. Empower Advisory Group LLC lifted its stake in shares of Trex by 7.0% during the 4th quarter. Empower Advisory Group LLC now owns 113,838 shares of the construction company’s stock worth $7,858,000 after buying an additional 7,416 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Trex by 53.2% during the 4th quarter. Truist Financial Corp now owns 5,479 shares of the construction company’s stock worth $378,000 after buying an additional 1,902 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

About Trex

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.