Trex (NYSE:TREX) Price Target Lowered to $90.00 at Truist Financial

Trex (NYSE:TREX) had its price target cut by Truist Financial from $100.00 to $90.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other research analysts have also recently issued reports on TREX. Barclays lowered their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Bank of America lowered their target price on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a report on Tuesday. Robert W. Baird raised their price objective on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. DA Davidson reissued a “neutral” rating and issued a $74.00 target price on shares of Trex in a report on Tuesday. Finally, UBS Group cut their target price on Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $78.38.

Trex Stock Performance

Trex stock opened at $62.33 on Tuesday. Trex has a fifty-two week low of $58.68 and a fifty-two week high of $101.91. The stock’s 50 day simple moving average is $69.54 and its two-hundred day simple moving average is $68.74. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last released its quarterly earnings results 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. The company had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. On average, analysts predict that Trex will post 2.04 earnings per share for the current year.

Institutional Trading of Trex

A number of large investors have recently made changes to their positions in TREX. Wilmington Savings Fund Society FSB bought a new position in Trex during the third quarter valued at approximately $30,000. Mather Group LLC. raised its stake in Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after buying an additional 191 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after buying an additional 473 shares during the period. Huntington National Bank boosted its stake in shares of Trex by 227.2% in the 4th quarter. Huntington National Bank now owns 566 shares of the construction company’s stock worth $39,000 after buying an additional 393 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Trex in the fourth quarter worth $41,000. 95.96% of the stock is currently owned by institutional investors.

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.