Trex (NYSE:TREX) Price Target Cut to $74.00 by Analysts at UBS Group

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

A number of other equities analysts also recently issued reports on TREX. BMO Capital Markets raised their price objective on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Citigroup reduced their price target on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Bank of America dropped their price objective on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Robert W. Baird boosted their target price on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $79.13.

Trex Stock Performance

NYSE:TREX traded down $0.40 during mid-day 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. Trex has a twelve month low of $58.68 and a twelve month high of $101.91. The business has a 50 day simple moving average of $69.83 and a 200 day simple moving average of $68.73. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.48 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. As a group, sell-side analysts expect that Trex will post 2.04 earnings per share for the current year.

Institutional Trading of Trex

A number of hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Trex during the 3rd quarter worth $30,000. Mather Group LLC. lifted its position in Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after buying an additional 191 shares during the period. Avior Wealth Management LLC boosted its stake in Trex by 1,212.8% in the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after buying an additional 473 shares during the last quarter. Huntington National Bank grew its holdings in Trex by 227.2% in the 4th quarter. Huntington National Bank now owns 566 shares of the construction company’s stock valued at $39,000 after buying an additional 393 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new stake in Trex in the 4th quarter valued at about $41,000. 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.