Jefferies Financial Group Lowers Trex (NYSE:TREX) Price Target to $73.00

Trex (NYSE:TREX) had its price objective reduced by equities research analysts at Jefferies Financial Group from $77.00 to $73.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the construction company’s stock. Jefferies Financial Group’s price target points to a potential upside of 14.83% from the company’s previous close.

A number of other equities analysts have also commented on the company. UBS Group dropped their price target on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. BMO Capital Markets lowered their price objective on Trex from $88.00 to $82.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Loop Capital lowered Trex from a “buy” rating to a “hold” rating and lowered their price objective for the company from $95.00 to $75.00 in a research note on Wednesday, August 7th. The Goldman Sachs Group lowered their price objective on Trex from $114.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Finally, 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 note on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $81.31.

Trex Stock Down 1.7 %

TREX opened at $63.57 on Wednesday. The stock has a market cap of $6.91 billion, a PE ratio of 27.28, a PEG ratio of 2.25 and a beta of 1.50. The business has a 50 day moving average of $65.44 and a 200-day moving average of $78.72. Trex has a 52 week low of $53.59 and a 52 week high of $101.91.

Trex (NYSE:TREX) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share. Equities analysts anticipate that Trex will post 2.04 EPS for the current year.

Institutional Trading of Trex

Hedge funds and other institutional investors have recently bought and sold shares of the company. Broad Bay Capital Management LP lifted its holdings in Trex by 3.8% in the 4th quarter. Broad Bay Capital Management LP now owns 415,000 shares of the construction company’s stock worth $34,358,000 after buying an additional 15,000 shares in the last quarter. Brevan Howard Capital Management LP lifted its holdings in Trex by 154.6% in the 4th quarter. Brevan Howard Capital Management LP now owns 29,552 shares of the construction company’s stock worth $2,447,000 after buying an additional 17,943 shares in the last quarter. Spouting Rock Asset Management LLC lifted its holdings in Trex by 12.3% in the 4th quarter. Spouting Rock Asset Management LLC now owns 5,351 shares of the construction company’s stock worth $443,000 after buying an additional 585 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Trex in the 4th quarter worth $25,000. Finally, Cim LLC bought a new stake in shares of Trex in the 4th quarter worth about $1,258,000. 95.96% of the stock is 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.