Trex (NYSE:TREX) Price Target Cut to $73.00 by Analysts at JPMorgan Chase & Co.

Trex (NYSE:TREX) had its target price dropped by JPMorgan Chase & Co. from $79.00 to $73.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 23.53% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Citigroup reduced their target price on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. DA Davidson reissued a “neutral” rating and set a $74.00 target price on shares of Trex in a research note on Tuesday, February 25th. Truist Financial reduced their price target on Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Benchmark reissued a “buy” rating and set a $80.00 price objective on shares of Trex in a research report on Monday. Finally, Bank of America reduced their target price on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Trex presently has a consensus rating of “Hold” and an average target price of $78.63.

Trex Stock Up 1.5 %

Shares of Trex stock traded up $0.88 during trading hours on Wednesday, reaching $59.10. 149,235 shares of the company’s stock were exchanged, compared to its average volume of 1,095,311. The business has a fifty day moving average of $68.47 and a two-hundred day moving average of $68.70. The company has a market capitalization of $6.33 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. Trex has a 1 year low of $56.31 and a 1 year high of $100.77.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. As a group, research analysts predict that Trex will post 2.04 EPS for the current year.

Insider Buying and Selling at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the transaction, the director now directly owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.71% of the stock is owned by corporate insiders.

Institutional Trading of Trex

Large investors have recently bought and sold shares of the company. Xponance Inc. boosted its position in shares of Trex by 0.7% in the 4th quarter. Xponance Inc. now owns 21,605 shares of the construction company’s stock worth $1,491,000 after buying an additional 143 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of Trex by 5.0% in the fourth quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock valued at $213,000 after purchasing an additional 147 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Trex by 0.9% in the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock valued at $1,102,000 after purchasing an additional 148 shares during the last quarter. Harrington Investments INC increased its stake in shares of Trex by 1.8% during the 4th quarter. Harrington Investments INC now owns 9,106 shares of the construction company’s stock worth $629,000 after purchasing an additional 159 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Trex by 9.1% in the fourth quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company’s stock worth $140,000 after acquiring an additional 170 shares during 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.