Truist Financial Cuts Trex (NYSE:TREX) Price Target to $90.00

Trex (NYSE:TREX) had its target price lowered by Truist Financial from $100.00 to $90.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Truist Financial’s price objective points to a potential upside of 46.11% from the company’s current price.

Several other research analysts have also commented on the company. UBS Group cut their price objective on Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday. Robert W. Baird boosted 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. Citigroup lowered 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. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Finally, BMO Capital Markets raised 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $78.50.

Trex Trading Down 0.1 %

NYSE:TREX traded down $0.07 on Tuesday, hitting $61.60. 1,293,837 shares of the stock were exchanged, compared to its average volume of 1,255,224. Trex has a fifty-two week low of $58.68 and a fifty-two week high of $101.91. The stock has a market cap of $6.60 billion, a PE ratio of 28.13, a PEG ratio of 2.51 and a beta of 1.51. The stock has a fifty day moving average of $69.83 and a 200-day moving average of $68.73.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating 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 firm had revenue of $167.63 million for the quarter, compared to analysts’ expectations of $160.48 million. As a group, analysts predict that Trex will post 2.04 earnings per share for the current year.

Institutional Trading of Trex

Several institutional investors have recently added to or reduced their stakes in TREX. L & S Advisors Inc bought a new stake in shares of Trex during the 3rd quarter valued at about $1,000,000. Algert Global LLC boosted its stake in Trex by 81.3% in the third quarter. Algert Global LLC now owns 86,300 shares of the construction company’s stock valued at $5,746,000 after acquiring an additional 38,700 shares during the period. Curi RMB Capital LLC boosted its stake in Trex by 27.2% in the third quarter. Curi RMB Capital LLC now owns 68,149 shares of the construction company’s stock valued at $4,537,000 after acquiring an additional 14,558 shares during the period. Dynamic Technology Lab Private Ltd grew its holdings in shares of Trex by 237.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 53,084 shares of the construction company’s stock valued at $3,534,000 after purchasing an additional 37,362 shares during the last quarter. Finally, Entropy Technologies LP raised its position in shares of Trex by 287.1% during the 3rd quarter. Entropy Technologies LP now owns 16,811 shares of the construction company’s stock worth $1,119,000 after purchasing an additional 12,468 shares during the period. Institutional investors own 95.96% of the company’s stock.

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.