Trex (NYSE:TREX) Price Target Cut to $105.00 by Analysts at Robert W. Baird

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

Several other analysts also recently issued reports on TREX. Truist Financial upped their price target on shares of Trex from $70.00 to $120.00 and gave the company a buy rating in a report on Tuesday, February 27th. The Goldman Sachs Group boosted their price target on Trex from $89.00 to $108.00 and gave the stock a buy rating in a report on Wednesday, February 28th. UBS Group increased their price objective on Trex from $84.00 to $100.00 and gave the company a neutral rating in a research note on Tuesday, February 27th. Barclays raised their price target on shares of Trex from $86.00 to $93.00 and gave the stock an underweight rating in a research note on Thursday, April 4th. Finally, DA Davidson upped their price objective on shares of Trex from $80.00 to $87.00 and gave the company a neutral rating in a research note on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Trex presently has an average rating of Hold and a consensus price target of $89.47.

Trex Stock Performance

TREX stock traded down $6.02 during trading on Friday, reaching $87.39. 2,469,505 shares of the company were exchanged, compared to its average volume of 562,026. The stock's 50 day moving average price is $93.66 and its 200 day moving average price is $82.91. The company has a market cap of $9.49 billion, a P/E ratio of 46.24, a PEG ratio of 2.09 and a beta of 1.60. Trex has a 52-week low of $51.03 and a 52-week high of $101.91.

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, topping the consensus estimate of $0.72 by $0.10. The firm had revenue of $373.64 million during the quarter, compared to analysts' expectations of $367.31 million. Trex had a return on equity of 31.26% and a net margin of 18.76%. Trex's revenue was up 56.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 earnings per share. As a group, equities research analysts forecast that Trex will post 2.22 EPS for the current year.

Hedge Funds Weigh In On Trex

Several hedge funds and other institutional investors have recently made changes to their positions in TREX. Redwood Investments LLC purchased a new stake in shares of Trex during the fourth quarter valued at approximately $2,271,000. WCM Investment Management LLC lifted its holdings in Trex by 9.4% in the 4th quarter. WCM Investment Management LLC now owns 251,159 shares of the construction company's stock worth $21,027,000 after buying an additional 21,486 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Trex during the third quarter valued at about $4,053,000. Motley Fool Wealth Management LLC acquired a new stake in shares of Trex during the fourth quarter valued at about $8,590,000. Finally, Quantbot Technologies LP increased its position in shares of Trex by 81.8% during the third quarter. Quantbot Technologies LP now owns 63,876 shares of the construction company's stock worth $3,937,000 after acquiring an additional 28,746 shares during the last quarter. Institutional investors and hedge funds 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.