Robert W. Baird Boosts Trex (NYSE:TREX) Price Target to $110.00

Trex (NYSE:TREX - Free Report) had its price objective raised by Robert W. Baird from $105.00 to $110.00 in a research note published on Monday, Benzinga reports. Robert W. Baird currently has a neutral rating on the construction company's stock.

Several other research firms also recently issued reports on TREX. JPMorgan Chase & Co. lifted their price target on shares of Trex from $79.00 to $93.00 and gave the company a neutral rating in a research report on Friday, March 1st. Wolfe Research initiated coverage on shares of Trex in a research report on Tuesday, December 12th. They issued a peer perform rating for the company. Benchmark lifted their price target on shares of Trex from $85.00 to $105.00 and gave the company a buy rating in a research report on Friday, March 1st. Stifel Nicolaus lifted their price target on shares of Trex from $90.00 to $107.00 and gave the company a buy rating in a research report on Tuesday, February 27th. Finally, The Goldman Sachs Group lifted their price target on shares of Trex from $89.00 to $108.00 and gave the company a buy rating in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $88.72.

Trex Stock Up 1.1 %

Trex stock traded up $1.03 during mid-day trading on Monday, hitting $97.37. 446,586 shares of the stock were exchanged, compared to its average volume of 814,368. Trex has a 12 month low of $47.65 and a 12 month high of $101.91. The firm's fifty day simple moving average is $93.38 and its two-hundred day simple moving average is $77.97. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 51.52, a PEG ratio of 2.45 and a beta of 1.60.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The construction company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The firm had revenue of $195.75 million during the quarter, compared to analyst estimates of $193.40 million. Trex had a net margin of 18.76% and a return on equity of 31.26%. The company's revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 EPS. As a group, analysts forecast that Trex will post 2.22 earnings per share for the current fiscal year.

Institutional Trading of Trex

Institutional investors have recently made changes to their positions in the stock. CWM LLC raised its holdings in shares of Trex by 250.3% during the first quarter. CWM LLC now owns 3,114 shares of the construction company's stock valued at $311,000 after acquiring an additional 2,225 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in shares of Trex during the fourth quarter valued at approximately $166,000. Vanguard Group Inc. raised its holdings in shares of Trex by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 10,248,650 shares of the construction company's stock valued at $848,486,000 after acquiring an additional 96,324 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Trex by 4.8% during the fourth quarter. Fisher Asset Management LLC now owns 98,720 shares of the construction company's stock valued at $8,173,000 after acquiring an additional 4,534 shares in the last quarter. Finally, Cim LLC bought a new position in shares of Trex during the fourth quarter valued at approximately $1,258,000. 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.