Citigroup Issues Pessimistic Forecast for Trex (NYSE:TREX) Stock Price

Trex (NYSE:TREX) had its price target lowered by Citigroup from $84.00 to $78.00 in a report released on Monday,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets lifted their target price on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Barclays decreased 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. Robert W. Baird increased their price objective on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Jefferies Financial Group reduced their target price on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Finally, StockNews.com cut Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $79.81.

Trex Price Performance

TREX stock opened at $70.32 on Monday. Trex has a 1 year low of $58.68 and a 1 year high of $101.91. The firm has a market capitalization of $7.53 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 3.50 and a beta of 1.50. The business has a 50 day simple moving average of $72.67 and a 200-day simple moving average of $70.52.

Trex (NYSE:TREX) last issued its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $225.42 million. During the same period in the prior year, the business earned $0.57 EPS. The firm’s quarterly revenue was down 23.1% on a year-over-year basis. On average, equities research analysts expect that Trex will post 2.05 EPS for the current year.

Hedge Funds Weigh In On Trex

Several institutional investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in Trex in the third quarter valued at $30,000. UMB Bank n.a. raised its position in Trex by 150.8% in the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after purchasing an additional 392 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Trex in the 2nd quarter valued at about $44,000. Quarry LP grew its position in shares of Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after buying an additional 513 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Trex by 274.9% during the fourth quarter. GAMMA Investing LLC now owns 701 shares of the construction company’s stock worth $48,000 after buying an additional 514 shares during the period. 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.