UBS Group Cuts Trex (NYSE:TREX) Price Target to $72.00

Trex (NYSE:TREX) had its price target reduced by UBS Group from $74.00 to $72.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

A number of other equities research analysts also recently weighed in on TREX. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on shares of Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Citigroup lowered their target price on shares of Trex from $78.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Bank of America decreased their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Finally, Truist Financial decreased their price target on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $77.06.

Trex Stock Performance

Shares of NYSE TREX opened at $57.79 on Friday. Trex has a 52-week low of $49.01 and a 52-week high of $92.02. The company’s 50 day moving average price is $56.96 and its 200-day moving average price is $65.79. The company has a market capitalization of $6.20 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX) last announced its quarterly 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. The business had revenue of $339.99 million during the quarter, compared to analyst estimates of $329.11 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Trex’s quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 EPS. Analysts forecast that Trex will post 2.04 earnings per share for the current year.

Insider Activity

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the transaction, the director now owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. The trade was a 45.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Trex

Several large investors have recently modified their holdings of TREX. Wilmington Savings Fund Society FSB purchased a new stake in Trex during the 3rd quarter worth about $30,000. Mather Group LLC. grew its stake in Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after buying an additional 191 shares during the last quarter. Avior Wealth Management LLC lifted its position in Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after acquiring an additional 473 shares during the period. Huntington National Bank lifted its position in Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company’s stock worth $39,000 after acquiring an additional 393 shares during the period. Finally, Eagle Bay Advisors LLC acquired a new stake in Trex during the 4th quarter worth approximately $41,000. 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.