UPDATE: JPMorgan Starts Trex (TREX) at Neutral
- Wall Street falls with Amazon; S&P 500 posts sixth straight month of gains
- Amazon (AMZN) Plunges After Missing Sales and Guidance Expectations, Analysts Slash PTs to Reflect Weaker Guidance
- Pinterest (PINS) Tops Profit and Sales Views, But Shares Plunges Over 20% on a Big Monthly User Miss to Prompt Two Downgrades
- 'I'm CEO.' New Book Outlines Merger Conversations Between Elon Musk and Tim Cook
- Bullard: Fed should taper this fall, go "fairly rapidly" to end early 2022
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."
Shares of Trex closed at $108.10 yesterday.
You May Also Be Interested In
- Mail.Ru Group Limited (MAIL:IL) (MLRYY) PT Lowered to $27 at JPMorgan
- Inchcape Plc. (INCH:LN) PT Lowered to GBP9.86 at JPMorgan
- Solvay SA (SOLB:BB) (SOBS) PT Raised to EUR145 at JPMorgan
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!