Trex (NYSE:TREX) Given New $90.00 Price Target at Truist Financial

Trex (NYSE:TREX) had its price objective cut by Truist Financial from $100.00 to $90.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other analysts have also recently commented on the stock. Barclays reduced their price objective on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research note on Tuesday, October 29th. BMO Capital Markets lifted their price target on shares of Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Bank of America lowered their price target on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday. DA Davidson reaffirmed a “neutral” rating and set a $74.00 price objective on shares of Trex in a report on Tuesday. Finally, UBS Group lowered their target price on Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Trex presently has an average rating of “Hold” and an average price target of $78.38.

Trex Stock Down 2.0 %

Shares of NYSE:TREX opened at $60.30 on Tuesday. The company has a 50-day moving average price of $69.34 and a 200 day moving average price of $68.69. Trex has a 52 week low of $58.68 and a 52 week high of $100.77. The company has a market cap of $6.46 billion, a P/E ratio of 27.53, a PEG ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Analysts expect that Trex will post 2.04 EPS for the current year.

Institutional Investors Weigh In On Trex

Hedge funds and other institutional investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. purchased a new position in shares of Trex during the fourth quarter valued at approximately $318,000. Putney Financial Group LLC purchased a new position in shares of Trex during the 4th quarter worth $2,470,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Trex by 3.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 373,986 shares of the construction company’s stock worth $25,816,000 after purchasing an additional 11,845 shares during the last quarter. Woodline Partners LP grew its position in shares of Trex by 65.8% in the fourth quarter. Woodline Partners LP now owns 312,491 shares of the construction company’s stock valued at $21,571,000 after purchasing an additional 124,070 shares during the period. Finally, Vident Advisory LLC increased its stake in Trex by 2.2% in the fourth quarter. Vident Advisory LLC now owns 47,099 shares of the construction company’s stock valued at $3,251,000 after purchasing an additional 996 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

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.