Trex (NYSE:TREX) Given New $79.00 Price Target at UBS Group

Trex (NYSE:TREX) had its price objective lowered by UBS Group from $104.00 to $79.00 in a report issued on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the construction company’s stock.

A number of other equities analysts have also weighed in on TREX. DA Davidson cut their price objective on shares of Trex from $89.00 to $80.00 and set a neutral rating for the company in a research report on Wednesday, July 3rd. Stephens lowered shares of Trex from an overweight rating to an equal weight rating and cut their price objective for the company from $115.00 to $72.00 in a research report on Wednesday. Citigroup cut their price objective on shares of Trex from $94.00 to $80.00 and set a neutral rating for the company in a research report on Thursday, July 11th. Loop Capital downgraded shares of Trex from a buy rating to a hold rating and decreased their price objective for the stock from $95.00 to $75.00 in a research note on Wednesday. Finally, Barclays decreased their target price on shares of Trex from $94.00 to $81.00 and set an underweight rating for the company in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Trex presently has an average rating of Hold and an average price target of $82.38.

Trex Trading Up 1.2 %

Shares of TREX traded up $0.75 during trading hours on Wednesday, reaching $60.82. The company had a trading volume of 1,672,799 shares, compared to its average volume of 907,613. The firm has a 50 day simple moving average of $79.31 and a 200-day simple moving average of $86.98. Trex has a 12-month low of $53.59 and a 12-month high of $101.91. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 1.85 and a beta of 1.50.

Trex (NYSE:TREX) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $376.47 million during the quarter, compared to analyst estimates of $387.87 million. Trex had a net margin of 20.60% and a return on equity of 35.33%. The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. Sell-side analysts forecast that Trex will post 2.26 earnings per share for the current year.

Insider Buying and Selling at Trex

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the sale, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at $2,340,311.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is currently owned by insiders.

Institutional Trading of Trex

A number of institutional investors and hedge funds have recently modified their holdings of the business. Eagle Asset Management Inc. raised its holdings in shares of Trex by 0.3% during the fourth quarter. Eagle Asset Management Inc. now owns 46,660 shares of the construction company’s stock worth $3,863,000 after purchasing an additional 119 shares during the period. Covestor Ltd raised its holdings in shares of Trex by 11.3% during the first quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock worth $121,000 after purchasing an additional 123 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Trex by 16.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 863 shares of the construction company’s stock worth $71,000 after purchasing an additional 124 shares during the period. Fifth Third Bancorp raised its holdings in shares of Trex by 8.3% during the first quarter. Fifth Third Bancorp now owns 1,683 shares of the construction company’s stock worth $168,000 after purchasing an additional 129 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in shares of Trex by 6.9% during the fourth quarter. First Horizon Advisors Inc. now owns 2,144 shares of the construction company’s stock worth $178,000 after purchasing an additional 138 shares during the period. 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.