Trex (NYSE:TREX) Price Target Raised to $78.00

Trex (NYSE:TREX) had its price target increased by Robert W. Baird from $70.00 to $78.00 in a report released on Tuesday, Benzinga reports. They currently have a neutral rating on the construction company’s stock.

A number of other research analysts have also recently commented on TREX. Truist Financial reduced their price target on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. StockNews.com upgraded Trex from a “sell” rating to a “hold” rating in a research note on Thursday, September 19th. Benchmark lowered their target price on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. B. Riley reduced their price target on shares of Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Loop Capital cut shares of Trex from a “buy” rating to a “hold” rating and lowered their price objective for the company from $95.00 to $75.00 in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $79.94.

Trex Stock Performance

NYSE TREX opened at $70.85 on Tuesday. The company has a market cap of $7.59 billion, a P/E ratio of 32.35, a P/E/G ratio of 3.21 and a beta of 1.50. The business’s 50 day moving average price is $65.46 and its 200-day moving average price is $75.54. Trex has a fifty-two week low of $55.67 and a fifty-two week high of $101.91.

Trex (NYSE:TREX) last released its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. During the same quarter last year, the business earned $0.57 EPS. The business’s revenue was down 23.1% on a year-over-year basis. As a group, equities analysts predict that Trex will post 2.05 EPS for the current year.

Hedge Funds Weigh In On Trex

A number of large investors have recently made changes to their positions in the business. Hantz Financial Services Inc. acquired a new position in Trex during the 2nd quarter valued at about $31,000. UMB Bank n.a. increased its holdings in shares of Trex by 150.8% during the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after acquiring an additional 392 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Trex in the 2nd quarter valued at approximately $44,000. Quarry LP raised its position in shares of Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after purchasing an additional 513 shares during the last quarter. Finally, Mather Group LLC. boosted its stake in Trex by 142.3% in the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after purchasing an additional 370 shares in the last quarter. 95.96% of the stock is 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.