Trex (NYSE:TREX) Price Target Increased to $72.00 by Analysts at BMO Capital Markets

Trex (NYSE:TREX) had its price target hoisted by BMO Capital Markets from $67.00 to $72.00 in a report published on Tuesday, Benzinga reports. The firm currently has a market perform rating on the construction company’s stock.

Other analysts have also recently issued research reports about the stock. Barclays cut their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday. DA Davidson reduced their price target 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. Benchmark lowered their price objective on shares of Trex from $105.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, August 8th. StockNews.com upgraded Trex from a “sell” rating to a “hold” rating in a report on Thursday, September 19th. Finally, 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 research note on Wednesday, August 7th. Two analysts have 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, the company currently has a consensus rating of “Hold” and an average target price of $79.94.

Trex Trading Up 6.2 %

TREX stock opened at $70.63 on Tuesday. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.45 and a beta of 1.50. The firm’s 50-day moving average price is $65.23 and its two-hundred day moving average price is $75.72. Trex has a 12-month low of $54.57 and a 12-month high of $101.91.

Trex (NYSE:TREX) last announced its quarterly 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 33.53% and a net margin of 21.07%. The company had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. During the same quarter in the previous year, the business earned $0.57 EPS. Trex’s revenue was down 23.1% compared to the same quarter last year. Equities analysts predict that Trex will post 2.04 EPS for the current year.

Hedge Funds Weigh In On Trex

A number of hedge funds have recently bought and sold shares of the company. Vident Advisory LLC purchased a new position in Trex in the first quarter worth about $4,013,000. Comerica Bank boosted its stake in Trex by 3.8% during the 1st quarter. Comerica Bank now owns 217,435 shares of the construction company’s stock valued at $21,689,000 after purchasing an additional 8,036 shares during the last quarter. Duality Advisers LP increased its holdings in shares of Trex by 54.1% in the 1st quarter. Duality Advisers LP now owns 47,677 shares of the construction company’s stock worth $4,756,000 after purchasing an additional 16,738 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Trex by 28.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 77,642 shares of the construction company’s stock worth $7,746,000 after purchasing an additional 17,376 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of Trex in the second quarter worth $726,000. Institutional investors own 95.96% of the company’s stock.

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.