Trex (NYSE:TREX) Price Target Raised to $94.00

Trex (NYSE:TREX - Get Free Report) had its price objective raised by investment analysts at Barclays from $93.00 to $94.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an "underweight" rating on the construction company's stock. Barclays's price objective suggests a potential upside of 7.58% from the stock's current price.

TREX has been the subject of a number of other reports. Robert W. Baird cut their price objective on Trex from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday. Truist Financial upped their price objective on shares of Trex from $70.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. The Goldman Sachs Group lifted their target price on shares of Trex from $89.00 to $108.00 and gave the stock a "buy" rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. boosted their target price on shares of Trex from $79.00 to $93.00 and gave the company a "neutral" rating in a report on Friday, March 1st. Finally, Benchmark increased their price target on Trex from $85.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $89.47.

Trex Price Performance

TREX stock traded down $6.03 during midday trading on Friday, reaching $87.38. 2,469,465 shares of the stock were exchanged, compared to its average volume of 784,483. Trex has a 52 week low of $51.03 and a 52 week high of $101.91. The company has a fifty day moving average price of $93.81 and a 200 day moving average price of $82.69. The stock has a market capitalization of $9.49 billion, a PE ratio of 46.51, a P/E/G ratio of 2.06 and a beta of 1.60.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.10. Trex had a net margin of 18.76% and a return on equity of 31.26%. The business had revenue of $373.64 million during the quarter, compared to analyst estimates of $367.31 million. During the same quarter last year, the business earned $0.38 EPS. The firm's quarterly revenue was up 56.5% on a year-over-year basis. As a group, analysts anticipate that Trex will post 2.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trex

Hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new position in shares of Trex during the fourth quarter valued at approximately $25,000. Mather Group LLC. purchased a new position in Trex during the 1st quarter worth $26,000. Loomis Sayles & Co. L P bought a new stake in shares of Trex in the 3rd quarter worth $27,000. Contravisory Investment Management Inc. purchased a new stake in shares of Trex in the fourth quarter valued at about $28,000. Finally, Headinvest LLC purchased a new stake in shares of Trex in the third quarter valued at about $29,000. Institutional investors and hedge funds 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.

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