UPDATE: JPMorgan Starts Trex (TREX) at Neutral

May 5, 2021 4:44 AM EDT
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Price: $97.10 +1.14%

Rating Summary:
    7 Buy, 18 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 8
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(Updated - May 5, 2021 4:55 AM EDT)

JPMorgan analyst Michael Rehaut initiates coverage on Trex (NYSE: TREX) with a Neutral rating and a price target of $109.00.

The analyst comments "Trex Company (NYSE: TREX), founded in 1996 and based in Winchester, VA, is the world’s largest manufacturer of composite decking and railing products, as well as a leading national provider of custom-engineered railing and staging systems. Trex also offers fencing products as well as licensing to third parties to manufacture and sell other outdoor products. In 2020, the company generated $880 million in sales, of which its Residential segment accounted for 94% and its Commercial segment the remaining 6%. Within Residential, we estimate that roughly 95% of sales were to the repair/remodel channel versus roughly 5% to the new residential channel. Additionally, we estimate that roughly 90% of TREX’s sales were generated in the U.S. with the remainder roughly evenly split between Canada and other international markets."

For an analyst ratings summary and ratings history on Trex click here. For more ratings news on Trex click here.

Shares of Trex closed at $108.10 yesterday.

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