Trex (NYSE:TREX) Price Target Raised to $110.00

Trex (NYSE:TREX) had its price objective increased by Robert W. Baird from $105.00 to $110.00 in a report issued on Monday, Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

Several other analysts also recently commented on TREX. Barclays upped their price objective on shares of Trex from $86.00 to $93.00 and gave the company an underweight rating in a report on Thursday, April 4th. The Goldman Sachs Group upped their price objective on shares of Trex from $89.00 to $108.00 and gave the company a buy rating in a report on Wednesday, February 28th. DA Davidson upped their price objective on shares of Trex from $80.00 to $87.00 and gave the company a neutral rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. upped their price objective on shares of Trex from $79.00 to $93.00 and gave the company a neutral rating in a report on Friday, March 1st. Finally, Wolfe Research initiated coverage on shares of Trex in a report on Tuesday, December 12th. They set a peer perform rating on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average price target of $88.72.

Trex Trading Down 4.1 %

Shares of Trex stock opened at $92.12 on Monday. Trex has a 12-month low of $49.49 and a 12-month high of $101.91. The firm has a market capitalization of $10.01 billion, a price-to-earnings ratio of 48.74, a PEG ratio of 2.49 and a beta of 1.60. The firm’s 50 day simple moving average is $93.85 and its two-hundred day simple moving average is $78.29.

Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, February 26th. The construction company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $195.75 million for the quarter, compared to analyst estimates of $193.40 million. Trex had a net margin of 18.76% and a return on equity of 31.26%. Trex’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 EPS. On average, sell-side analysts predict that Trex will post 2.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Trex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mather Group LLC. acquired a new stake in shares of Trex in the first quarter valued at about $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Trex in the fourth quarter valued at about $25,000. Contravisory Investment Management Inc. acquired a new stake in shares of Trex in the fourth quarter valued at about $28,000. Covestor Ltd raised its position in shares of Trex by 178.8% in the first quarter. Covestor Ltd now owns 382 shares of the construction company’s stock valued at $25,000 after buying an additional 245 shares during the last quarter. Finally, Rise Advisors LLC raised its position in shares of Trex by 305.0% in the first quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after buying an additional 305 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

About Trex

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.