Trex (NYSE:TREX) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Trex (NYSE:TREX) had its price objective raised by Robert W. Baird from $70.00 to $78.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets decreased their target price on shares of Trex from $82.00 to $67.00 and set a “market perform” rating for the company in a research note on Tuesday, October 22nd. DA Davidson lowered their target price on shares of Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Jefferies Financial Group cut their price target on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Truist Financial reduced their price target on Trex from $120.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Loop Capital cut Trex from a “buy” rating to a “hold” rating and cut their price objective for the company from $95.00 to $75.00 in a research report on Wednesday, August 7th. Two research 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, the company presently has an average rating of “Hold” and a consensus target price of $79.94.

Trex Stock Up 0.4 %

Shares of NYSE TREX opened at $70.85 on Tuesday. Trex has a 52 week low of $55.67 and a 52 week high of $101.91. The business’s 50 day moving average price is $65.46 and its 200 day moving average price is $75.54. The firm has a market cap of $7.59 billion, a P/E ratio of 32.35, a P/E/G ratio of 3.21 and a beta of 1.50.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. During the same period in the prior year, the firm earned $0.57 EPS. The business’s revenue for the quarter was down 23.1% on a year-over-year basis. As a group, research analysts expect that Trex will post 2.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. purchased a new position in Trex during the second quarter worth approximately $31,000. UMB Bank n.a. increased its stake in shares of Trex by 150.8% in the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after acquiring an additional 392 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Trex during the 2nd quarter worth $44,000. Quarry LP boosted its position in shares of Trex by 576.4% during the 2nd quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after acquiring an additional 513 shares during the last quarter. Finally, Mather Group LLC. grew its holdings in shares of Trex by 142.3% in the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock valued at $47,000 after purchasing an additional 370 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.