Trex (NYSE:TREX) Price Target Lowered to $65.00 at Stephens

Trex (NYSE:TREX - Get Free Report) had its price target lowered by investment analysts at Stephens from $73.00 to $65.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the construction company's stock. Stephens' target price points to a potential upside of 5.17% from the stock's previous close.

A number of other brokerages also recently issued reports on TREX. Truist Financial dropped their price target on shares of Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their target price on shares of Trex from $79.00 to $73.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. DA Davidson reiterated a "neutral" rating and set a $74.00 target price on shares of Trex in a research note on Tuesday, February 25th. Benchmark restated a "buy" rating and issued a $80.00 price target on shares of Trex in a research note on Monday, March 3rd. Finally, StockNews.com cut Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $76.65.

Trex Stock Performance

TREX opened at $61.81 on Monday. The stock has a market capitalization of $6.63 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62. The stock's 50 day moving average price is $56.96 and its 200-day moving average price is $65.79. Trex has a 52-week low of $49.01 and a 52-week high of $92.02.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $339.99 million for the quarter, compared to analysts' expectations of $329.11 million. During the same quarter in the previous year, the business posted $0.82 EPS. The company's quarterly revenue was down 9.0% on a year-over-year basis. Research analysts forecast that Trex will post 2.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the sale, the director now directly owns 1,705 shares of the company's stock, valued at $105,505.40. This represents a 45.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.71% of the company's stock.

Institutional Trading of Trex

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC raised its holdings in Trex by 8.8% in the 3rd quarter. Barclays PLC now owns 149,623 shares of the construction company's stock valued at $9,961,000 after acquiring an additional 12,085 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Trex in the third quarter valued at approximately $30,000. GAMMA Investing LLC lifted its position in Trex by 274.9% during the fourth quarter. GAMMA Investing LLC now owns 701 shares of the construction company's stock worth $48,000 after buying an additional 514 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in Trex during the fourth quarter worth $41,000. Finally, Claro Advisors LLC acquired a new stake in shares of Trex in the 4th quarter worth $220,000. 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.

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