Trex (NYSE:TREX) Price Target Lowered to $74.00 at UBS Group

Trex (NYSE:TREX) had its target price reduced by UBS Group from $76.00 to $74.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

TREX has been the subject of several other research reports. BMO Capital Markets upped their price objective on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Robert W. Baird increased their price objective on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. DA Davidson upped their target price on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, Barclays dropped their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $78.38.

Trex Stock Up 1.1 %

Shares of TREX stock opened at $62.33 on Tuesday. The company has a market cap of $6.68 billion, a P/E ratio of 28.46, a PEG ratio of 2.51 and a beta of 1.51. The business has a 50 day moving average of $69.54 and a two-hundred day moving average of $68.74. Trex has a 52 week low of $58.68 and a 52 week high of $101.91.

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

Hedge Funds Weigh In On Trex

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Trex during the third quarter valued at $30,000. Mather Group LLC. boosted its position in Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after acquiring an additional 191 shares during the period. Avior Wealth Management LLC grew its stake in Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after acquiring an additional 473 shares in the last quarter. Huntington National Bank increased its holdings in shares of 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 purchasing an additional 393 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Trex in the fourth quarter worth approximately $41,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

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.