UBS Group Cuts Trex (NYSE:TREX) Price Target to $74.00

Trex (NYSE:TREX) had its price objective reduced by UBS Group from $76.00 to $74.00 in a research report sent to investors on Tuesday,Benzinga reports. UBS Group currently has a neutral rating on the construction company’s stock.

Several other research analysts have also recently commented on TREX. DA Davidson increased their price target on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Robert W. Baird upped their price target on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Citigroup dropped their target price on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Barclays reduced their price target on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Trex has a consensus rating of “Hold” and a consensus target price of $78.38.

Trex Stock Down 2.0 %

Shares of TREX opened at $60.30 on Tuesday. The company has a 50 day moving average of $69.34 and a 200-day moving average of $68.69. The stock has a market capitalization of $6.46 billion, a P/E ratio of 27.53, a P/E/G ratio of 2.51 and a beta of 1.51. Trex has a twelve month low of $58.68 and a twelve month high of $100.77.

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

Hedge Funds Weigh In On Trex

A number of hedge funds have recently bought and sold shares of TREX. Wilmington Savings Fund Society FSB acquired a new position in shares of Trex during the 3rd quarter worth approximately $30,000. Mather Group LLC. boosted its stake in shares of Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after buying an additional 191 shares during the period. Avior Wealth Management LLC grew its position in Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after buying an additional 473 shares in the last quarter. Huntington National Bank increased its stake 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 position in Trex in the 4th quarter valued at $41,000. 95.96% of the stock is owned by 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.