Citigroup Trims Trex (NYSE:TREX) Target Price to $80.00

Trex (NYSE:TREX) had its price objective lowered by Citigroup from $94.00 to $80.00 in a research report released on Thursday morning, Benzinga reports. Citigroup currently has a neutral rating on the construction company’s stock.

TREX has been the subject of a number of other research reports. Benchmark restated a buy rating and issued a $105.00 target price on shares of Trex in a research note on Tuesday, May 14th. Robert W. Baird lowered their target price on Trex from $110.00 to $105.00 and set a neutral rating for the company in a research note on Friday, May 10th. Barclays lifted their price objective on Trex from $93.00 to $94.00 and gave the company an underweight rating in a research note on Friday, May 10th. The Goldman Sachs Group lowered their price objective on Trex from $114.00 to $93.00 and set a buy rating for the company in a research note on Wednesday. Finally, Loop Capital lowered their price objective on Trex from $110.00 to $95.00 and set a buy rating for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trex has a consensus rating of Hold and a consensus price target of $89.53.

Trex Stock Performance

NYSE TREX opened at $78.38 on Thursday. Trex has a fifty-two week low of $53.59 and a fifty-two week high of $101.91. The stock has a 50 day simple moving average of $82.85 and a two-hundred day simple moving average of $87.11. The stock has a market cap of $8.52 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 1.64 and a beta of 1.50.

Trex (NYSE:TREX) last released its earnings results on Thursday, May 9th. The construction company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. The company had revenue of $373.64 million during the quarter, compared to analysts’ expectations of $367.31 million. Trex had a return on equity of 35.33% and a net margin of 20.60%. The firm’s revenue for the quarter was up 56.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 EPS. Sell-side analysts predict that Trex will post 2.26 earnings per share for the current year.

Insider Activity at Trex

In related news, SVP Jacob T. Rudolph sold 16,440 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the completion of the sale, the senior vice president now owns 25,746 shares in the company, valued at $2,340,311.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is owned by company insiders.

Institutional Trading of Trex

Hedge funds have recently bought and sold shares of the company. Mather Group LLC. purchased a new stake in Trex during the first quarter valued at $26,000. V Square Quantitative Management LLC purchased a new stake in Trex in the fourth quarter worth about $25,000. Sunbelt Securities Inc. increased its position in Trex by 1,744.4% in the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after buying an additional 314 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in Trex in the fourth quarter worth about $28,000. Finally, Rise Advisors LLC increased its position in Trex by 305.0% in the first quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock worth $40,000 after buying an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Company Profile

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.