Trex (NYSE:TREX) Given New $67.00 Price Target at Barclays

Trex (NYSE:TREX) had its price target lowered by Barclays from $68.00 to $67.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an underweight rating on the construction company’s stock.

A number of other equities research analysts have also recently weighed in on the company. Stephens downgraded Trex from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $115.00 to $72.00 in a research report on Wednesday, August 7th. Jefferies Financial Group cut their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Stifel Nicolaus decreased their target price on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. BMO Capital Markets cut their price target on shares of Trex from $82.00 to $67.00 and set a “market perform” rating on the stock in a report on Tuesday, October 22nd. Finally, Loop Capital lowered Trex from a “buy” rating to a “hold” rating and decreased their price objective for the company from $95.00 to $75.00 in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trex currently has a consensus rating of “Hold” and a consensus price target of $79.94.

Trex Price Performance

TREX stock opened at $70.77 on Tuesday. Trex has a 1-year low of $58.68 and a 1-year high of $101.91. The business has a 50-day moving average price of $65.59 and a 200 day moving average price of $75.51. The company has a market capitalization of $7.58 billion, a P/E ratio of 32.32, a PEG ratio of 3.22 and a beta of 1.49.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The company’s quarterly revenue was down 23.1% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share. On average, analysts anticipate that Trex will post 2.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. purchased a new position in shares of Trex during the 2nd quarter valued at about $31,000. UMB Bank n.a. grew its holdings in Trex by 150.8% during the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after acquiring an additional 392 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Trex during the second quarter valued at approximately $44,000. Quarry LP lifted its holdings in Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after acquiring an additional 513 shares during the period. Finally, Mather Group LLC. boosted its position in Trex by 142.3% in the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after purchasing an additional 370 shares in the last quarter. Hedge funds and other institutional investors 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.