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

Trex (NYSE:TREX) had its price target decreased by equities researchers at Bank of America from $85.00 to $79.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Bank of America‘s target price points to a potential upside of 28.00% from the company’s current price.

Several other equities analysts have also commented on the company. BMO Capital Markets upped their target price on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Barclays reduced their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Robert W. Baird increased their target price on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Finally, Citigroup dropped their price objective on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.44.

Trex Price Performance

Shares of TREX opened at $61.72 on Tuesday. The stock has a market capitalization of $6.61 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. The business’s fifty day moving average price is $69.83 and its 200 day moving average price is $68.73. Trex has a 12-month low of $58.68 and a 12-month high of $101.91.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) 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%. As a group, research analysts anticipate that Trex will post 2.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trex

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