Trex (NYSE:TREX) Price Target Lowered to $81.00 at Barclays

Trex (NYSE:TREX) had its price target decreased by Barclays from $94.00 to $81.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “underweight” rating on the construction company’s stock. Barclays‘s target price suggests a potential downside of 0.60% from the company’s previous close.

Other analysts also recently issued reports about the company. Benchmark reaffirmed a “buy” rating and set a $105.00 price target on shares of Trex in a research report on Tuesday, May 14th. Robert W. Baird lowered their target price on Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Loop Capital reduced their price target on shares of Trex from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday. DA Davidson lowered their price objective on shares of Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Finally, The Goldman Sachs Group dropped their target price on shares of Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Trex presently has an average rating of “Hold” and an average price target of $88.76.

Trex Price Performance

Shares of TREX stock traded up $3.11 during trading hours on Friday, reaching $81.49. The company had a trading volume of 348,379 shares, compared to its average volume of 833,970. The business has a fifty day simple moving average of $82.85 and a 200-day simple moving average of $87.11. Trex has a 12 month low of $53.59 and a 12 month high of $101.91. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 1.64 and a beta of 1.50.

Trex (NYSE:TREX) last released its quarterly earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.10. Trex had a net margin of 20.60% and a return on equity of 35.33%. The company had revenue of $373.64 million for the quarter, compared to analyst estimates of $367.31 million. During the same period last year, the firm earned $0.38 earnings per share. The firm’s revenue was up 56.5% on a year-over-year basis. On average, equities research analysts expect that Trex will post 2.26 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Jacob T. Rudolph sold 16,440 shares of Trex stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the completion of the sale, the senior vice president now owns 25,746 shares in the company, valued at approximately $2,340,311.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.71% of the stock is owned by company insiders.

Institutional Trading of Trex

Hedge funds have recently made changes to their positions in the stock. Eagle Asset Management Inc. grew its position in Trex by 0.3% during the fourth quarter. Eagle Asset Management Inc. now owns 46,660 shares of the construction company’s stock valued at $3,863,000 after acquiring an additional 119 shares during the last quarter. Covestor Ltd raised its position in Trex by 11.3% in the 1st quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock worth $121,000 after purchasing an additional 123 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Trex by 16.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 863 shares of the construction company’s stock worth $71,000 after purchasing an additional 124 shares during the last quarter. Fifth Third Bancorp lifted its stake in Trex by 8.3% in the first quarter. Fifth Third Bancorp now owns 1,683 shares of the construction company’s stock worth $168,000 after purchasing an additional 129 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Trex by 6.9% during the fourth quarter. First Horizon Advisors Inc. now owns 2,144 shares of the construction company’s stock valued at $178,000 after buying an additional 138 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

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.