Trex (NYSE:TREX) Price Target Lowered to $67.00 at BMO Capital Markets

Trex (NYSE:TREX) had its target price decreased by equities researchers at BMO Capital Markets from $82.00 to $67.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the construction company’s stock. BMO Capital Markets’ target price indicates a potential upside of 6.45% from the stock’s previous close.

Several other research analysts have also weighed in on the company. Bank of America dropped their target price on Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. DA Davidson reduced their target price on shares of Trex from $89.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Stephens lowered shares of Trex from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $115.00 to $72.00 in a research note on Wednesday, August 7th. Stifel Nicolaus reduced their price objective on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group lowered their target price on shares of Trex from $114.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Trex has a consensus rating of “Hold” and a consensus target price of $80.38.

Trex Trading Down 0.1 %

NYSE TREX traded down $0.04 during trading on Tuesday, reaching $62.94. 265,569 shares of the company’s stock were exchanged, compared to its average volume of 957,418. The company’s fifty day simple moving average is $65.07 and its 200-day simple moving average is $76.81. The firm has a market capitalization of $6.84 billion, a PE ratio of 25.99, a P/E/G ratio of 2.19 and a beta of 1.50. Trex has a fifty-two week low of $54.09 and a fifty-two week high of $101.91.

Trex (NYSE:TREX) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm had revenue of $376.47 million for the quarter, compared to analyst estimates of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 EPS. Equities analysts forecast that Trex will post 2.04 EPS for the current fiscal year.

Institutional Trading of Trex

Several institutional investors have recently modified their holdings of TREX. Renaissance Technologies LLC bought a new position in Trex in the second quarter worth $19,475,000. Motley Fool Asset Management LLC boosted its position in shares of Trex by 287.5% during the 1st quarter. Motley Fool Asset Management LLC now owns 324,808 shares of the construction company’s stock valued at $32,400,000 after acquiring an additional 240,989 shares in the last quarter. Federated Hermes Inc. increased its stake in Trex by 39.1% in the second quarter. Federated Hermes Inc. now owns 774,083 shares of the construction company’s stock valued at $57,375,000 after acquiring an additional 217,767 shares during the period. Achmea Investment Management B.V. acquired a new position in Trex in the second quarter worth about $15,635,000. Finally, Blair William & Co. IL lifted its stake in Trex by 19.4% during the first quarter. Blair William & Co. IL now owns 1,137,225 shares of the construction company’s stock worth $113,438,000 after purchasing an additional 184,631 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

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.