BMO Capital Markets Trims Trex (NYSE:TREX) Target Price to $67.00

Trex (NYSE:TREX) had its price objective decreased by equities researchers at BMO Capital Markets from $82.00 to $67.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the construction company’s stock. BMO Capital Markets’ target price indicates a potential upside of 6.59% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Trex from a “sell” rating to a “hold” rating in a research report on Thursday, September 19th. B. Riley cut their price target on shares of Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Benchmark lowered their price objective on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Stifel Nicolaus cut their target price on Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered their target price on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Trex currently has a consensus rating of “Hold” and a consensus target price of $80.38.

Trex Stock Down 0.1 %

Shares of Trex stock opened at $62.86 on Tuesday. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.19 and a beta of 1.50. Trex has a twelve month low of $54.09 and a twelve month high of $101.91. The company’s fifty day moving average is $65.15 and its 200 day moving average is $76.48.

Trex (NYSE:TREX) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, equities analysts anticipate that Trex will post 2.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trex

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mather Group LLC. purchased a new position in shares of Trex during the first quarter valued at approximately $26,000. Hantz Financial Services Inc. bought a new position in Trex during the 2nd quarter valued at $31,000. Sunbelt Securities Inc. boosted its holdings in Trex by 1,744.4% during the 1st quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after acquiring an additional 314 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Trex by 150.8% in the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after acquiring an additional 392 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trex in the second quarter valued at about $44,000. 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.