Trex (NYSE:TREX) Price Target Lowered to $67.00 at Barclays

Trex (NYSE:TREX) had its price target reduced by Barclays from $68.00 to $67.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an underweight rating on the construction company’s stock.

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group lowered their price objective on Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. UBS Group dropped their price target on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Benchmark cut their price objective on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Loop Capital downgraded shares of Trex from a “buy” rating to a “hold” rating and lowered their target price for the stock from $95.00 to $75.00 in a report on Wednesday, August 7th. Finally, Robert W. Baird raised their target price on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Trex presently has a consensus rating of “Hold” and a consensus target price of $79.94.

Trex Stock Down 0.1 %

NYSE TREX opened at $70.77 on Tuesday. The stock’s 50-day moving average price is $65.59 and its 200-day moving average price is $75.51. The company has a market capitalization of $7.58 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 3.22 and a beta of 1.49. Trex has a 52 week low of $58.68 and a 52 week high of $101.91.

Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The business had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company’s revenue for the quarter was down 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 earnings per share. Research analysts anticipate that Trex will post 2.05 EPS for the current year.

Institutional Investors Weigh In On Trex

Several hedge funds and other institutional investors have recently made changes to their positions in TREX. Hantz Financial Services Inc. purchased a new stake in Trex in the 2nd quarter worth about $31,000. Fidelis Capital Partners LLC bought a new stake in shares of Trex during the 1st quarter worth approximately $59,000. Ashton Thomas Private Wealth LLC purchased a new position in Trex during the 2nd quarter valued at $44,000. Quarry LP grew its position in Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after acquiring an additional 513 shares during the last quarter. Finally, Mather Group LLC. grew its position in Trex by 142.3% in the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after acquiring an additional 370 shares during the last quarter. Hedge funds and other 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.