Trex (NYSE:TREX) Now Covered by Analysts at Melius Research

by · The Cerbat Gem

Melius Research began coverage on shares of Trex (NYSE:TREX – Free Report) in a research note released on Tuesday morning, MarketBeat reports. The brokerage issued a buy rating and a $62.00 price objective on the construction company’s stock.

TREX has been the topic of a number of other research reports. Barclays restated an “underweight” rating and set a $42.00 price target (up from $36.00) on shares of Trex in a research note on Tuesday, July 14th. Stifel Nicolaus set a $49.00 price objective on shares of Trex and gave the company a “hold” rating in a research report on Tuesday, August 11th. Stephens lifted their target price on shares of Trex from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th. Citigroup reissued a “neutral” rating and set a $52.00 target price (up from $43.00) on shares of Trex in a research report on Wednesday, July 15th. Finally, BMO Capital Markets set a $57.00 price target on shares of Trex in a research note on Wednesday, August 5th. Eleven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Trex has an average rating of “Hold” and an average target price of $49.90.

Read Our Latest Report on Trex

Trex Price Performance

Trex stock opened at $44.83 on Tuesday. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 3.05 and a beta of 1.48. Trex has a 1-year low of $29.77 and a 1-year high of $54.30. The business has a fifty day moving average price of $45.58 and a 200-day moving average price of $43.19.

Trex (NYSE:TREX – Get Free Report) last announced its earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.01). Trex had a net margin of 14.68% and a return on equity of 18.03%. The business had revenue of $418.02 million for the quarter, compared to analyst estimates of $415.71 million. During the same period in the prior year, the company earned $0.71 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Trex will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Amy M. Fernandez sold 1,050 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $50.07, for a total value of $52,573.50. Following the transaction, the senior vice president directly owned 67,794 shares of the company’s stock, valued at approximately $3,394,445.58. This represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Trex

A number of institutional investors and hedge funds have recently modified their holdings of the company. Byrne Asset Management LLC grew its holdings in Trex by 21.0% in the third quarter. Byrne Asset Management LLC now owns 3,686 shares of the construction company’s stock valued at $160,000 after purchasing an additional 639 shares during the period. Essential Partners LLC raised its stake in shares of Trex by 24.6% during the 1st quarter. Essential Partners LLC now owns 3,383 shares of the construction company’s stock worth $123,000 after buying an additional 669 shares during the period. IFP Advisors Inc raised its stake in shares of Trex by 76.0% during the 2nd quarter. IFP Advisors Inc now owns 1,584 shares of the construction company’s stock worth $79,000 after buying an additional 684 shares during the period. Parallel Advisors LLC lifted its position in shares of Trex by 77.6% during the 1st quarter. Parallel Advisors LLC now owns 2,120 shares of the construction company’s stock valued at $77,000 after buying an additional 926 shares in the last quarter. Finally, Red Spruce Capital LLC lifted its position in shares of Trex by 2.3% during the 2nd quarter. Red Spruce Capital LLC now owns 49,410 shares of the construction company’s stock valued at $2,472,000 after buying an additional 1,101 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Trex News Summary

Here are the key news stories impacting Trex this week:

  • Positive Sentiment: Melius Research initiated coverage with a Buy rating and a $62 price target. The target implies approximately 38% upside from the referenced $44.83 share price, providing a positive catalyst and new analyst support for Trex. Melius Research initiates coverage of Trex stock with USD 62 target
  • Positive Sentiment: The new coverage comes with a price target materially above Trex’s 50-day moving average of $45.58 and its 200-day average of $43.19, suggesting Melius sees additional potential beyond the stock’s recent trading range. Trex now covered by Melius Research

About Trex

(Get Free Report)

Trex Company, Inc designs, manufactures and distributes composite decking, railing and related outdoor-living products. Its portfolio includes residential and commercial decking systems, railing, outdoor lighting, furniture, and other accessories sold under the Trex brand. The company’s products are positioned as alternatives to traditional wood and are designed to provide durability and lower maintenance.

Trex composite products are made primarily from reclaimed wood fibers and recycled polyethylene film, including materials such as used plastic bags and packaging.

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