Trex (NYSE:TREX) Price Target Raised to $93.00 at Barclays

Trex (NYSE:TREX - Free Report) had its price objective raised by Barclays from $86.00 to $93.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an underweight rating on the construction company's stock.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. lifted their price target on Trex from $79.00 to $93.00 and gave the company a neutral rating in a research report on Friday, March 1st. UBS Group lifted their price target on Trex from $84.00 to $100.00 and gave the company a neutral rating in a research report on Tuesday, February 27th. Stifel Nicolaus lifted their price target on Trex from $90.00 to $107.00 and gave the company a buy rating in a research report on Tuesday, February 27th. Benchmark lifted their price target on Trex from $85.00 to $105.00 and gave the company a buy rating in a research report on Friday, March 1st. Finally, Wolfe Research initiated coverage on Trex in a research report on Tuesday, December 12th. They set a peer perform rating for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $87.28.

Trex Trading Down 0.3 %

Shares of TREX stock traded down $0.31 during mid-day trading on Thursday, reaching $94.89. The stock had a trading volume of 471,127 shares, compared to its average volume of 825,484. The business's fifty day moving average is $92.53 and its 200-day moving average is $77.22. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 51.35, a PEG ratio of 2.41 and a beta of 1.60. Trex has a 1-year low of $46.84 and a 1-year high of $101.91.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings data on Monday, February 26th. The construction company reported $0.20 earnings per share 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 return on equity of 31.26% and a net margin of 18.76%. The company's revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 earnings per share. On average, analysts forecast that Trex will post 2.22 earnings per share for the current year.

Institutional Trading of Trex

A number of institutional investors have recently made changes to their positions in the company. Eagle Asset Management Inc. boosted its stake in shares of Trex by 0.3% in the fourth quarter. Eagle Asset Management Inc. now owns 46,660 shares of the construction company's stock worth $3,863,000 after acquiring an additional 119 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Trex by 16.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 863 shares of the construction company's stock worth $71,000 after acquiring an additional 124 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Trex by 6.9% in the fourth quarter. First Horizon Advisors Inc. now owns 2,144 shares of the construction company's stock worth $178,000 after acquiring an additional 138 shares during the last quarter. Shell Asset Management Co. boosted its stake in shares of Trex by 0.5% in the third quarter. Shell Asset Management Co. now owns 35,605 shares of the construction company's stock worth $2,194,000 after acquiring an additional 163 shares during the last quarter. Finally, Martin Capital Advisors LLP boosted its stake in shares of Trex by 0.7% in the fourth quarter. Martin Capital Advisors LLP now owns 25,723 shares of the construction company's stock worth $2,130,000 after acquiring an additional 168 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

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.