Equities research analysts at Jefferies Financial Group began coverage on shares of Trex (NYSE:TREX) in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage set a “hold” rating and a $60.00 price target on the construction company’s stock. Jefferies Financial Group’s price objective indicates a potential downside of 11.62% from the company’s current price. Jefferies Financial Group also issued estimates for Trex’s Q4 2018 earnings at $0.36 EPS, FY2018 earnings at $2.29 EPS, Q1 2019 earnings at $0.68 EPS, Q2 2019 earnings at $0.80 EPS, Q3 2019 earnings at $0.62 EPS, Q4 2019 earnings at $0.47 EPS, FY2019 earnings at $2.58 EPS and FY2020 earnings at $2.84 EPS.

TREX has been the topic of a number of other research reports. Zacks Investment Research downgraded Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, January 1st. Sidoti upgraded Trex from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 30th. SunTrust Banks lowered their target price on Trex to $58.00 and set a “hold” rating on the stock in a research note on Tuesday, October 30th. Finally, ValuEngine upgraded Trex from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Trex currently has a consensus rating of “Hold” and a consensus price target of $40.29.

Trex stock opened at $67.89 on Wednesday. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 42.97 and a beta of 2.04. Trex has a fifty-two week low of $50.72 and a fifty-two week high of $90.74.

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

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in shares of Trex by 73.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,441,828 shares of the construction company’s stock valued at $90,245,000 after acquiring an additional 609,638 shares during the last quarter. Waddell & Reed Financial Inc. raised its holdings in shares of Trex by 128.8% during the second quarter. Waddell & Reed Financial Inc. now owns 1,005,452 shares of the construction company’s stock valued at $62,932,000 after acquiring an additional 566,063 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Trex by 103.1% during the second quarter. Bank of New York Mellon Corp now owns 976,680 shares of the construction company’s stock valued at $61,131,000 after acquiring an additional 495,715 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Trex by 104.6% during the second quarter. Northern Trust Corp now owns 792,850 shares of the construction company’s stock valued at $49,624,000 after acquiring an additional 405,349 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its holdings in shares of Trex by 99.4% during the second quarter. Disciplined Growth Investors Inc. MN now owns 733,892 shares of the construction company’s stock valued at $45,934,000 after acquiring an additional 365,780 shares during the last quarter. Institutional investors own 89.55% of the company’s stock.

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.

Featured Article: What is the Bid-Ask Spread?

Analyst Recommendations for Trex (NYSE:TREX)

Receive News & Ratings for Trex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trex and related companies with MarketBeat.com's FREE daily email newsletter.