Trex (NYSE:TREX) Price Target Cut to $90.00 by Analysts at Truist Financial

Trex (NYSE:TREX) had its target price reduced by Truist Financial from $100.00 to $90.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

A number of other analysts have also weighed in on TREX. Robert W. Baird upped their target price on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Bank of America decreased their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays dropped their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research note on Tuesday, October 29th. UBS Group decreased 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. Finally, BMO Capital Markets lifted their price target on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $78.38.

Trex Trading Up 1.1 %

TREX opened at $62.33 on Tuesday. Trex has a 12 month low of $58.68 and a 12 month high of $101.91. The company has a market cap of $6.68 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. The company has a 50 day moving average of $69.54 and a 200 day moving average of $68.74.

Trex (NYSE:TREX) last issued its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. Research analysts forecast that Trex will post 2.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trex

A number of institutional investors have recently made changes to their positions in the business. L & S Advisors Inc bought a new stake in Trex in the third quarter worth $1,000,000. Algert Global LLC lifted its stake in shares of Trex by 81.3% in the 3rd quarter. Algert Global LLC now owns 86,300 shares of the construction company’s stock valued at $5,746,000 after acquiring an additional 38,700 shares during the last quarter. Curi RMB Capital LLC boosted its holdings in Trex by 27.2% during the 3rd quarter. Curi RMB Capital LLC now owns 68,149 shares of the construction company’s stock valued at $4,537,000 after acquiring an additional 14,558 shares during the period. Dynamic Technology Lab Private Ltd grew its position in Trex by 237.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 53,084 shares of the construction company’s stock worth $3,534,000 after acquiring an additional 37,362 shares during the last quarter. Finally, Entropy Technologies LP increased its stake in Trex by 287.1% in the 3rd quarter. Entropy Technologies LP now owns 16,811 shares of the construction company’s stock worth $1,119,000 after purchasing an additional 12,468 shares during the period. Hedge funds and other institutional investors 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.