Jefferies Financial Group Issues Pessimistic Forecast for Trex (NYSE:TREX) Stock Price

Trex (NYSE:TREX) had its price objective dropped by research analysts at Jefferies Financial Group from $81.00 to $71.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the construction company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 14.40% from the stock’s current price.

Other analysts have also issued reports about the company. UBS Group lowered their price objective on Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday. DA Davidson reiterated a “neutral” rating and set a $74.00 price target on shares of Trex in a research report on Tuesday. Bank of America cut their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday. Truist Financial lowered their target price on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday. Finally, BMO Capital Markets upped their target price 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Trex currently has a consensus rating of “Hold” and an average price target of $78.38.

Trex Price Performance

Shares of NYSE:TREX traded up $0.40 during midday trading on Tuesday, reaching $62.07. The company’s stock had a trading volume of 2,140,361 shares, compared to its average volume of 1,282,952. The business’s fifty day simple moving average is $69.83 and its 200-day simple moving average is $68.73. Trex has a fifty-two week low of $58.68 and a fifty-two week high of $101.91. The company has a market capitalization of $6.65 billion, a P/E ratio of 28.38, a P/E/G ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 EPS 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 analyst estimates of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. On average, analysts forecast that Trex will post 2.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trex

Several hedge funds and other institutional investors have recently made changes to their positions in TREX. Putney Financial Group LLC acquired a new position in shares of Trex during the 4th quarter worth about $2,470,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 period. Woodline Partners LP increased its position in Trex by 65.8% during the fourth quarter. Woodline Partners LP now owns 312,491 shares of the construction company’s stock worth $21,571,000 after buying an additional 124,070 shares during the last quarter. Vident Advisory LLC increased its position in Trex by 2.2% during the fourth quarter. Vident Advisory LLC now owns 47,099 shares of the construction company’s stock worth $3,251,000 after buying an additional 996 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its stake in Trex by 23.8% in the fourth quarter. Rafferty Asset Management LLC now owns 33,564 shares of the construction company’s stock valued at $2,317,000 after buying an additional 6,447 shares during the period. 95.96% of the stock is owned by institutional investors.

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.