Trex (NYSE:TREX) Price Target Lowered to $74.00 at UBS Group

Trex (NYSE:TREX) had its price objective dropped by research analysts at UBS Group from $76.00 to $74.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. UBS Group’s price target points to a potential upside of 20.77% from the stock’s current price.

TREX has been the subject of several other reports. Bank of America decreased their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. DA Davidson boosted their price objective on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. BMO Capital Markets increased their target price on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Finally, Citigroup dropped their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $79.13.

Trex Stock Performance

Trex stock traded down $0.40 during midday trading on Tuesday, reaching $61.28. The stock had a trading volume of 1,080,629 shares, compared to its average volume of 1,252,075. The stock’s 50-day simple moving average is $69.83 and its 200 day simple moving average is $68.73. Trex has a twelve month low of $58.68 and a twelve month high of $101.91. The stock has a market capitalization of $6.57 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.48 million. Equities analysts predict that Trex will post 2.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trex

Institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. grew its stake in Trex by 54.5% in the fourth quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock worth $746,858,000 after purchasing an additional 3,818,025 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Trex by 463.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company’s stock valued at $216,400,000 after acquiring an additional 2,578,734 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Trex during the 4th quarter valued at approximately $110,414,000. Anomaly Capital Management LP lifted its stake in Trex by 228.2% during the fourth quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company’s stock worth $104,427,000 after purchasing an additional 1,051,888 shares during the last quarter. Finally, Wasatch Advisors LP boosted its holdings in Trex by 33.2% in the third quarter. Wasatch Advisors LP now owns 4,076,408 shares of the construction company’s stock worth $271,407,000 after purchasing an additional 1,015,516 shares during the period. Institutional investors and hedge funds 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.