UBS Group Cuts Trex (NYSE:TREX) Price Target to $74.00

Trex (NYSE:TREX) had its price objective lowered by UBS Group from $76.00 to $74.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

Other research analysts have also issued reports about the company. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. BMO Capital Markets increased their price target on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. DA Davidson raised their price target on shares of Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Citigroup cut their price objective on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, Bank of America cut their price target on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $78.38.

Trex Stock Performance

TREX opened at $62.33 on Tuesday. The firm has a market cap of $6.68 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. The business has a 50 day moving average price of $69.54 and a 200 day moving average price of $68.74. Trex has a twelve month low of $58.68 and a twelve month high of $101.91.

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

Hedge Funds Weigh In On Trex

Several institutional investors have recently added to or reduced their stakes in TREX. Blue Trust Inc. boosted its holdings in shares of Trex by 134.6% in the 3rd quarter. Blue Trust Inc. now owns 1,769 shares of the construction company’s stock worth $118,000 after acquiring an additional 1,015 shares in the last quarter. International Assets Investment Management LLC raised its position in Trex by 7,363.6% in the 3rd quarter. International Assets Investment Management LLC now owns 2,463 shares of the construction company’s stock valued at $164,000 after purchasing an additional 2,430 shares during the last quarter. Ballentine Partners LLC boosted its stake in Trex by 15.5% in the third quarter. Ballentine Partners LLC now owns 3,139 shares of the construction company’s stock worth $209,000 after purchasing an additional 422 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Trex by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 12,636 shares of the construction company’s stock worth $841,000 after purchasing an additional 855 shares during the last quarter. Finally, J.W. Cole Advisors Inc. increased its stake in shares of Trex by 69.4% in the third quarter. J.W. Cole Advisors Inc. now owns 5,274 shares of the construction company’s stock valued at $351,000 after buying an additional 2,161 shares in the last quarter. 95.96% of the stock is owned by 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.