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

Trex (NYSE:TREX) had its price objective decreased by BMO Capital Markets from $82.00 to $67.00 in a report issued on Tuesday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the construction company’s stock.

Several other research firms have also recently weighed in on TREX. The Goldman Sachs Group cut their price target on Trex from $114.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. UBS Group reduced their price target on shares of Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. 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 research report on Thursday, August 8th. StockNews.com upgraded shares of Trex from a “sell” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Citigroup lowered their price target on shares of Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Trex has an average rating of “Hold” and a consensus target price of $80.38.

Trex Trading Up 0.3 %

NYSE:TREX opened at $64.35 on Tuesday. The stock has a 50-day moving average price of $65.18 and a 200 day moving average price of $76.16. Trex has a 12-month low of $54.09 and a 12-month high of $101.91. The stock has a market capitalization of $6.99 billion, a P/E ratio of 26.59, a P/E/G ratio of 2.39 and a beta of 1.50.

Trex (NYSE:TREX) last issued its earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $376.47 million during the quarter, compared to analyst estimates of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. Trex’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share. On average, research analysts predict that Trex will post 2.04 earnings per share for the current fiscal year.

Institutional Trading of Trex

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Trex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock worth $1,028,829,000 after buying an additional 65,428 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in Trex by 3.2% during the second quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock worth $146,288,000 after buying an additional 60,405 shares during the period. American Century Companies Inc. boosted its position in Trex by 7.1% during the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock valued at $136,631,000 after purchasing an additional 122,658 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Trex by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company’s stock worth $90,752,000 after buying an additional 92,563 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in shares of Trex by 0.6% during the 2nd quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company’s stock valued at $84,803,000 after purchasing an additional 6,901 shares during the last quarter. 95.96% of the stock is currently 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.