Trex (NYSE:TREX) PT Lowered to $97.00

Trex (NYSE:TREX) had its price objective dropped by analysts at B. Riley from $107.00 to $97.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. B. Riley’s target price suggests a potential upside of 61.24% from the company’s previous close.

TREX has been the subject of a number of other reports. Stifel Nicolaus reduced their target price on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday. Benchmark restated a “buy” rating and issued a $105.00 price objective on shares of Trex in a research note on Tuesday, May 14th. Robert W. Baird reduced their price objective on shares of Trex from $88.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday. The Goldman Sachs Group reduced their price objective on shares of Trex from $114.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Finally, Barclays reduced their price objective on shares of Trex from $94.00 to $81.00 and set an “underweight” rating for the company in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $83.20.

Trex Stock Performance

Shares of TREX stock traded down $16.40 during trading on Wednesday, hitting $60.16. 3,940,938 shares of the company were exchanged, compared to its average volume of 882,406. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 1.85 and a beta of 1.50. The business’s 50-day simple moving average is $79.82 and its 200 day simple moving average is $87.17. Trex has a twelve month low of $53.59 and a twelve month high of $101.91.

Trex (NYSE:TREX) last posted its earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. Trex had a net margin of 20.60% and a return on equity of 35.33%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. On average, equities analysts forecast that Trex will post 2.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Trex

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total value of $1,494,396.00. Following the sale, the senior vice president now owns 25,746 shares of the company’s stock, valued at approximately $2,340,311.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Trex

Several institutional investors and hedge funds have recently made changes to their positions in the company. Eagle Asset Management Inc. boosted its stake in shares of Trex by 0.3% in the 4th quarter. Eagle Asset Management Inc. now owns 46,660 shares of the construction company’s stock valued at $3,863,000 after purchasing an additional 119 shares in the last quarter. Covestor Ltd lifted its position in Trex by 11.3% during the 1st quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock worth $121,000 after buying an additional 123 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Trex by 16.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 863 shares of the construction company’s stock worth $71,000 after buying an additional 124 shares in the last quarter. Fifth Third Bancorp lifted its position in Trex by 8.3% during the 1st quarter. Fifth Third Bancorp now owns 1,683 shares of the construction company’s stock worth $168,000 after buying an additional 129 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in Trex by 6.9% during the 4th quarter. First Horizon Advisors Inc. now owns 2,144 shares of the construction company’s stock worth $178,000 after buying an additional 138 shares in the last quarter. Institutional investors and hedge funds 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.