Trex (NYSE:TREX) Given New $66.00 Price Target at Loop Capital

Trex (NYSE:TREX - Get Free Report) had its price objective boosted by stock analysts at Loop Capital from $62.00 to $66.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "hold" rating on the construction company's stock. Loop Capital's price target suggests a potential upside of 3.25% from the stock's previous close.

A number of other equities analysts have also recently commented on the stock. Barclays dropped their price target on shares of Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Benchmark reiterated a "buy" rating and set a $80.00 price objective on shares of Trex in a report on Monday, May 12th. UBS Group decreased their price objective on shares of Trex from $74.00 to $72.00 and set a "neutral" rating for the company in a report on Friday, May 9th. BMO Capital Markets upgraded shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price objective for the company in a report on Thursday, April 17th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Trex in a report on Tuesday, April 1st. They set a "buy" rating and a $85.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $74.88.

Trex Trading Down 0.3%

Shares of TREX stock traded down $0.19 during trading hours on Thursday, reaching $63.92. 1,649,571 shares of the stock were exchanged, compared to its average volume of 1,455,814. Trex has a 12-month low of $49.01 and a 12-month high of $86.56. The company's 50-day moving average price is $57.42 and its 200-day moving average price is $61.05. The firm has a market capitalization of $6.85 billion, a price-to-earnings ratio of 35.12, a price-to-earnings-growth ratio of 2.71 and a beta of 1.50.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. Trex had a net margin of 17.69% and a return on equity of 22.78%. The firm had revenue of $339.99 million during the quarter, compared to analysts' expectations of $329.11 million. During the same period in the previous year, the company earned $0.82 EPS. The firm's revenue for the quarter was down 9.0% compared to the same quarter last year. On average, sell-side analysts expect that Trex will post 2.04 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. grew its position in Trex by 54.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock worth $746,858,000 after purchasing an additional 3,818,025 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Trex by 132.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,297,863 shares of the construction company's stock worth $424,007,000 after acquiring an additional 4,163,014 shares during the period. Wasatch Advisors LP lifted its stake in shares of Trex by 12.8% in the fourth quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company's stock worth $317,505,000 after buying an additional 523,113 shares in the last quarter. Bamco Inc. NY grew its position in shares of Trex by 6.2% in the fourth quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company's stock valued at $148,631,000 after purchasing an additional 126,441 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its position in shares of Trex by 86.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company's stock valued at $140,064,000 after purchasing an additional 939,960 shares in the last quarter. Hedge funds and other 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.