Trex (NYSE:TREX) Price Target Raised to $74.00

Trex (NYSE:TREX) had its price objective boosted by DA Davidson from $70.00 to $74.00 in a research note published on Tuesday, Benzinga reports. They currently have a neutral rating on the construction company’s stock. DA Davidson also issued estimates for Trex’s Q4 2024 earnings at $0.04 EPS and FY2025 earnings at $2.21 EPS.

Other equities research analysts have also issued reports about the stock. Barclays lowered their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday. The Goldman Sachs Group lowered their price target on shares of Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. UBS Group lowered their price target on shares of Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Jefferies Financial Group lowered their price target on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Finally, Citigroup lowered their price target on shares of Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Trex currently has an average rating of “Hold” and a consensus target price of $79.94.

Trex Trading Up 0.4 %

TREX opened at $70.85 on Tuesday. The stock has a market capitalization of $7.70 billion, a P/E ratio of 32.35, a P/E/G ratio of 2.45 and a beta of 1.50. Trex has a 12 month low of $55.67 and a 12 month high of $101.91. The firm’s fifty day simple moving average is $65.46 and its 200 day simple moving average is $75.54.

Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. Trex had a net margin of 21.07% and a return on equity of 33.53%. The firm had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. During the same period in the previous year, the business earned $0.57 EPS. The company’s revenue was down 23.1% compared to the same quarter last year. On average, equities research analysts predict that Trex will post 2.04 EPS for the current fiscal year.

Institutional Trading of Trex

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Trex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock worth $1,028,829,000 after buying an additional 65,428 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in shares of Trex by 3.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock worth $146,288,000 after buying an additional 60,405 shares during the period. American Century Companies Inc. boosted its holdings in shares of Trex by 7.1% during the 2nd quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock worth $136,631,000 after buying an additional 122,658 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Trex by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company’s stock worth $90,752,000 after buying an additional 92,563 shares during the period. Finally, Blair William & Co. IL boosted its holdings in shares of Trex by 0.6% during the 2nd quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company’s stock worth $84,803,000 after buying an additional 6,901 shares during the period. Institutional investors own 95.96% of the company’s stock.

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.