JPMorgan Chase & Co. Cuts Trex (NYSE:TREX) Price Target to $69.00

Trex (NYSE:TREX) had its target price cut by JPMorgan Chase & Co. from $95.00 to $69.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a neutral rating on the construction company’s stock.

A number of other research firms have also recently weighed in on TREX. The Goldman Sachs Group decreased their price target on Trex from $114.00 to $93.00 and set a buy rating for the company in a report on Wednesday, July 10th. Bank of America reduced their target price on Trex from $97.00 to $85.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Benchmark reduced their target price on Trex from $105.00 to $80.00 and set a buy rating for the company in a research note on Thursday, August 8th. Stifel Nicolaus reduced their target price on Trex from $110.00 to $85.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Finally, B. Riley reduced their price objective on Trex from $107.00 to $97.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Trex presently has a consensus rating of Hold and a consensus target price of $80.88.

Trex Price Performance

NYSE TREX opened at $60.46 on Monday. Trex has a 12 month low of $53.59 and a 12 month high of $101.91. The company has a 50-day moving average of $76.91 and a 200-day moving average of $86.25. The company has a market cap of $6.57 billion, a P/E ratio of 25.95, a P/E/G ratio of 2.02 and a beta of 1.50.

Trex (NYSE:TREX) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $376.47 million during the quarter, compared to the consensus estimate of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 EPS. As a group, equities research analysts anticipate that Trex will post 2.07 EPS for the current year.

Hedge Funds Weigh In On Trex

A number of institutional investors have recently bought and sold shares of TREX. Mather Group LLC. acquired a new position in shares of Trex in the first quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new stake in shares of Trex in the fourth quarter valued at approximately $25,000. Sunbelt Securities Inc. boosted its stake in shares of Trex by 1,744.4% in the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after buying an additional 314 shares during the period. Rise Advisors LLC boosted its stake in shares of Trex by 305.0% in the first quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after buying an additional 305 shares during the period. Finally, Hantz Financial Services Inc. bought a new stake in Trex during the second quarter worth $31,000. 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.