Trex (NYSE:TREX) Price Target Lowered to $79.00 at Bank of America

Trex (NYSE:TREX) had its price objective decreased by investment analysts at Bank of America from $85.00 to $79.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Bank of America‘s price objective points to a potential upside of 28.37% from the stock’s previous close.

TREX has been the subject of a number of other research reports. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. DA Davidson boosted their target price on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Citigroup cut their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Robert W. Baird boosted their target price on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, BMO Capital Markets boosted their target price on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $78.38.

Trex Stock Performance

TREX stock opened at $61.54 on Tuesday. The company has a market capitalization of $6.59 billion, a P/E ratio of 28.10, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. Trex has a 52-week low of $58.68 and a 52-week high of $101.91. The business has a 50-day simple moving average of $69.34 and a two-hundred day simple moving average of $68.69.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. As a group, sell-side analysts forecast that Trex will post 2.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trex

Hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new stake in Trex during the 3rd quarter valued at $30,000. Mather Group LLC. raised its holdings in Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after acquiring an additional 191 shares during the period. Avior Wealth Management LLC raised its holdings in Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after acquiring an additional 473 shares during the period. Huntington National Bank raised its holdings in Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company’s stock valued at $39,000 after acquiring an additional 393 shares during the period. Finally, Eagle Bay Advisors LLC bought a new stake in Trex during the 4th quarter valued at $41,000. 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.