Trex (NYSE:TREX) Stock Price Expected to Rise, Loop Capital Analyst Says

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

A number of other equities research analysts have also recently commented on the company. BMO Capital Markets upgraded Trex from a "market perform" rating to an "outperform" rating and set a $72.00 target price on the stock in a research note on Thursday, April 17th. Benchmark reiterated a "buy" rating and set a $80.00 target price on shares of Trex in a research note on Monday, May 12th. UBS Group lowered their target price on Trex from $74.00 to $72.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Robert W. Baird upgraded Trex from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $65.00 to $75.00 in a research note on Thursday. Finally, Citigroup decreased their price objective on Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $74.88.

Trex Stock Down 0.3%

NYSE:TREX traded down $0.19 during trading hours on Thursday, hitting $63.92. 1,649,571 shares of the company traded hands, compared to its average volume of 1,455,115. The company has a market cap of $6.85 billion, a PE ratio of 35.12, a PEG ratio of 2.70 and a beta of 1.50. Trex has a one year low of $49.01 and a one year high of $86.56. The firm's 50-day simple moving average is $57.42 and its 200-day simple moving average is $60.98.

Trex (NYSE:TREX - Get Free Report) last released its 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. The company had revenue of $339.99 million for the quarter, compared to analysts' expectations of $329.11 million. Trex had a return on equity of 22.78% and a net margin of 17.69%. The business's revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.82 EPS. As a group, equities research analysts expect that Trex will post 2.04 EPS for the current year.

Insider Transactions at Trex

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of Trex stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $61.17, for a total transaction of $144,728.22. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jacob T. Rudolph sold 1,500 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total value of $90,405.00. Following the completion of the sale, the senior vice president owned 27,527 shares in the company, valued at $1,659,052.29. This trade represents a 5.17% decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Trex

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Xponance Inc. raised its position in shares of Trex by 0.7% in the fourth quarter. Xponance Inc. now owns 21,605 shares of the construction company's stock worth $1,491,000 after buying an additional 143 shares in the last quarter. Harrington Investments INC grew its holdings in shares of Trex by 1.8% during the fourth quarter. Harrington Investments INC now owns 9,106 shares of the construction company's stock worth $629,000 after purchasing an additional 159 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Trex by 9.1% during the fourth quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock worth $140,000 after purchasing an additional 170 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Trex by 3.2% during the first quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company's stock worth $320,000 after purchasing an additional 177 shares in the last quarter. Finally, State of Michigan Retirement System grew its holdings in shares of Trex by 0.8% during the first quarter. State of Michigan Retirement System now owns 25,622 shares of the construction company's stock worth $1,489,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other 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.