Jefferies Financial Group Lowers Trex (NYSE:TREX) Price Target to $71.00

Trex (NYSE:TREX) had its price objective reduced by stock analysts at Jefferies Financial Group from $81.00 to $71.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the construction company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 14.40% from the stock’s previous close.

Other analysts also recently issued reports about the company. StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Citigroup reduced their target price 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. Bank of America dropped their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Tuesday. DA Davidson restated a “neutral” rating and set a $74.00 target price on shares of Trex in a research report on Tuesday. Finally, Robert W. Baird increased their price target on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Trex has a consensus rating of “Hold” and an average target price of $78.38.

Trex Stock Performance

Shares of TREX stock traded up $0.40 during midday trading on Tuesday, hitting $62.07. 2,140,361 shares of the company were exchanged, compared to its average volume of 1,282,952. Trex has a 52 week low of $58.68 and a 52 week high of $101.91. The firm has a market capitalization of $6.65 billion, a P/E ratio of 28.38, a PEG ratio of 2.51 and a beta of 1.51. The firm’s 50 day moving average price is $69.83 and its two-hundred day moving average price is $68.73.

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

Institutional Investors Weigh In On Trex

A number of institutional investors have recently modified their holdings of TREX. Wilmington Savings Fund Society FSB bought a new stake in shares of Trex during the 3rd quarter valued at about $30,000. Mather Group LLC. boosted its stake in Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after acquiring an additional 191 shares in the last quarter. Avior Wealth Management LLC grew its holdings in Trex by 1,212.8% in the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after purchasing an additional 473 shares during the period. Huntington National Bank increased its stake in Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company’s stock valued at $39,000 after purchasing an additional 393 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Trex during the fourth quarter valued at about $41,000. 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.