Loop Capital Forecasts Strong Price Appreciation for Trex (NYSE:TREX) Stock

Trex (NYSE:TREX - Get Free Report) had its price objective increased by equities research analysts at Loop Capital from $62.00 to $66.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the construction company's stock. Loop Capital's price target indicates a potential upside of 2.93% from the company's previous close.

Several other research firms have also recently weighed in on TREX. Benchmark reiterated a "buy" rating and issued a $80.00 price target on shares of Trex in a report on Monday, May 12th. Citigroup reduced their price target on shares of Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Barclays reduced their price target on shares of Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Robert W. Baird upgraded shares of Trex from a "neutral" rating to an "outperform" rating and upped their price target for the company from $65.00 to $75.00 in a report on Thursday. Finally, BMO Capital Markets raised shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price objective on the stock in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Trex has a consensus rating of "Hold" and an average price target of $75.94.

Trex Trading Up 6.4%

Shares of NYSE:TREX traded up $3.86 during trading on Thursday, hitting $64.12. 2,367,169 shares of the company's stock were exchanged, compared to its average volume of 1,618,354. The firm has a 50-day moving average price of $57.22 and a two-hundred day moving average price of $61.15. Trex has a 1-year low of $49.01 and a 1-year high of $86.56. The firm has a market cap of $6.88 billion, a P/E ratio of 35.23, a PEG ratio of 2.48 and a beta of 1.50.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. Trex had a net margin of 17.69% and a return on equity of 22.78%. The business had revenue of $339.99 million for the quarter, compared to analyst estimates of $329.11 million. During the same quarter last year, the firm earned $0.82 EPS. Trex's quarterly revenue was down 9.0% compared to the same quarter last year. As a group, research analysts predict that Trex will post 2.04 EPS for the current year.

Insider Activity at Trex

In other Trex news, SVP Jacob T. Rudolph sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.27, for a total transaction of $90,405.00. Following the completion of the transaction, the senior vice president owned 27,527 shares in the company, valued at approximately $1,659,052.29. This trade represents a 5.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Amy M. Fernandez sold 2,366 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $61.17, for a total transaction of $144,728.22. Following the transaction, the senior vice president owned 24,569 shares of the company's stock, valued at approximately $1,502,885.73. The trade was a 8.78% decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TREX. Huntington National Bank raised its position in Trex by 227.2% in the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock valued at $39,000 after buying an additional 393 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Trex by 28.4% during the 2nd quarter. Parallel Advisors LLC now owns 1,049 shares of the construction company's stock worth $57,000 after acquiring an additional 232 shares during the last quarter. Brooklyn Investment Group boosted its holdings in Trex by 35,733.3% during the 1st quarter. Brooklyn Investment Group now owns 1,075 shares of the construction company's stock worth $62,000 after acquiring an additional 1,072 shares during the last quarter. Blue Trust Inc. boosted its holdings in Trex by 55.9% during the 1st quarter. Blue Trust Inc. now owns 1,138 shares of the construction company's stock worth $66,000 after acquiring an additional 408 shares during the last quarter. Finally, eCIO Inc. purchased a new position in Trex during the 1st quarter worth $77,000. Institutional investors and hedge funds 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.

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