Bank of America Has Lowered Expectations for Trex (NYSE:TREX) Stock Price

Trex (NYSE:TREX) had its price objective decreased by Bank of America from $85.00 to $79.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Bank of America‘s price target would indicate a potential upside of 28.37% from the company’s previous close.

Several other research firms also recently weighed in on TREX. DA Davidson raised their price objective on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Barclays cut their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Citigroup lowered their target price on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, BMO Capital Markets raised their target price on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Trex currently has an average rating of “Hold” and a consensus price target of $78.38.

Trex Stock Down 1.4 %

NYSE TREX opened at $61.54 on Tuesday. Trex has a twelve month low of $58.68 and a twelve month high of $101.91. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 28.10, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. The business’s fifty day moving average is $69.34 and its 200 day moving average is $68.69.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating 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 company had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. On average, research analysts anticipate that Trex will post 2.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its position in Trex by 134.6% in the 3rd quarter. Blue Trust Inc. now owns 1,769 shares of the construction company’s stock valued at $118,000 after buying an additional 1,015 shares in the last quarter. International Assets Investment Management LLC increased its position in Trex by 7,363.6% in the 3rd quarter. International Assets Investment Management LLC now owns 2,463 shares of the construction company’s stock valued at $164,000 after buying an additional 2,430 shares in the last quarter. Ballentine Partners LLC increased its position in Trex by 15.5% in the 3rd quarter. Ballentine Partners LLC now owns 3,139 shares of the construction company’s stock valued at $209,000 after buying an additional 422 shares in the last quarter. State of Alaska Department of Revenue increased its position in Trex by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 12,636 shares of the construction company’s stock valued at $841,000 after buying an additional 855 shares in the last quarter. Finally, J.W. Cole Advisors Inc. increased its position in Trex by 69.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,274 shares of the construction company’s stock valued at $351,000 after buying an additional 2,161 shares in the last quarter. 95.96% of the stock is owned by 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.