Jefferies Financial Group Lowers Trex (NYSE:TREX) Price Target to $71.00

Trex (NYSE:TREX) had its price objective cut by stock analysts at Jefferies Financial Group from $81.00 to $71.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the construction company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 15.37% from the stock’s previous close.

Several other equities analysts also recently weighed in on TREX. Robert W. Baird lifted their target price on Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Barclays lowered their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Bank of America lowered their price objective on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday. Citigroup lowered their price objective 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 boosted their price objective 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 equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Trex has an average rating of “Hold” and a consensus price target of $78.38.

Trex Stock Performance

Shares of TREX stock opened at $61.54 on Tuesday. Trex has a fifty-two week low of $58.68 and a fifty-two week high of $101.91. The stock’s fifty day moving average is $69.34 and its two-hundred day moving average is $68.69. The firm has a market capitalization of $6.59 billion, a P/E ratio of 28.10, a PEG ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. The firm had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. On average, equities analysts forecast that Trex will post 2.04 earnings per share for the current year.

Hedge Funds Weigh In On Trex

Large investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Trex during the 4th quarter valued at about $318,000. Putney Financial Group LLC acquired a new position in shares of Trex in the 4th quarter worth approximately $2,470,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Trex by 3.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 373,986 shares of the construction company’s stock worth $25,816,000 after purchasing an additional 11,845 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Trex by 65.8% in the 4th quarter. Woodline Partners LP now owns 312,491 shares of the construction company’s stock worth $21,571,000 after purchasing an additional 124,070 shares during the last quarter. Finally, Vident Advisory LLC lifted its holdings in shares of Trex by 2.2% in the 4th quarter. Vident Advisory LLC now owns 47,099 shares of the construction company’s stock worth $3,251,000 after purchasing an additional 996 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other 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.