Trex (NYSE:TREX) Given New $78.00 Price Target at Robert W. Baird

Trex (NYSE:TREX) had its target price hoisted by Robert W. Baird from $70.00 to $78.00 in a research note published on Tuesday, Benzinga reports. They currently have a neutral rating on the construction company’s stock.

A number of other research analysts have also recently weighed in on TREX. Loop Capital cut shares of Trex from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $95.00 to $75.00 in a research note on Wednesday, August 7th. Jefferies Financial Group reduced their price target on Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. DA Davidson lowered their price objective on Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. UBS Group reduced their target price on Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Truist Financial dropped their price objective on shares of Trex from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $79.94.

Trex Trading Down 0.1 %

TREX stock opened at $70.77 on Tuesday. The firm has a 50 day moving average of $65.59 and a 200-day moving average of $75.51. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 3.21 and a beta of 1.50. Trex has a 12-month low of $58.68 and a 12-month high of $101.91.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping 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 analyst estimates of $225.42 million. During the same period in the previous year, the firm earned $0.57 EPS. The business’s revenue for the quarter was down 23.1% compared to the same quarter last year. Sell-side analysts forecast that Trex will post 2.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd boosted its stake in shares of Trex by 11.3% in the first quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock valued at $121,000 after purchasing an additional 123 shares during the period. Harrington Investments INC boosted its position in Trex by 1.4% in the 2nd quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock valued at $727,000 after buying an additional 140 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Trex by 4.6% during the first quarter. Avantax Advisory Services Inc. now owns 3,950 shares of the construction company’s stock valued at $394,000 after acquiring an additional 173 shares in the last quarter. First Citizens Bank & Trust Co. increased its position in shares of Trex by 2.6% during the second quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company’s stock worth $523,000 after acquiring an additional 176 shares during the last quarter. Finally, Values First Advisors Inc. lifted its stake in shares of Trex by 3.6% in the second quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company’s stock worth $497,000 after acquiring an additional 230 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other 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.