Barclays Cuts Trex (NYSE:TREX) Price Target to $67.00

Trex (NYSE:TREX) had its target price decreased by Barclays from $68.00 to $67.00 in a research note published on Tuesday morning, Benzinga reports. Barclays currently has an underweight rating on the construction company’s stock.

A number of other equities analysts have also recently commented on TREX. Stephens cut Trex from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $115.00 to $72.00 in a report on Wednesday, August 7th. DA Davidson lowered their price objective on shares of Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. BMO Capital Markets cut their target price on shares of Trex from $82.00 to $67.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 22nd. Citigroup decreased their price target on shares of Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. cut their price objective on Trex from $95.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $79.94.

Trex Price Performance

Shares of TREX stock opened at $70.85 on Tuesday. Trex has a 1-year low of $55.67 and a 1-year high of $101.91. The firm has a market cap of $7.59 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 3.21 and a beta of 1.50. The company has a 50-day moving average of $65.46 and a two-hundred day moving average of $75.54.

Trex (NYSE:TREX) last announced its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. During the same quarter in the previous year, the company earned $0.57 earnings per share. The firm’s quarterly revenue was down 23.1% compared to the same quarter last year. Sell-side analysts anticipate that Trex will post 2.05 EPS for the current fiscal year.

Institutional Trading of Trex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TREX. Hantz Financial Services Inc. purchased a new stake in Trex in the second quarter valued at $31,000. Fidelis Capital Partners LLC acquired a new stake in shares of Trex during the first quarter worth about $59,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trex in the 2nd quarter valued at about $44,000. Quarry LP boosted its position in shares of Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after purchasing an additional 513 shares during the period. Finally, Mather Group LLC. grew its stake in Trex by 142.3% during the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after buying an additional 370 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

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.