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

Trex (NYSE:TREX) had its price target cut by stock analysts at Truist Financial from $100.00 to $90.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Truist Financial’s target price would indicate a potential upside of 46.11% from the company’s current price.

A number of other analysts also recently commented on the stock. BMO Capital Markets boosted their price objective on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Barclays decreased their price target on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Citigroup dropped their price objective on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. UBS Group decreased their target price on Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Bank of America lowered their target price on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $78.50.

Trex Price Performance

Shares of TREX traded down $0.07 during midday trading on Tuesday, reaching $61.60. 1,293,837 shares of the stock were exchanged, compared to its average volume of 1,255,224. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 28.13, a PEG 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 $101.91. The business’s 50-day moving average price is $69.83 and its 200 day moving average price is $68.73.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. The business had revenue of $167.63 million during the quarter, compared to analysts’ expectations of $160.48 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. As a group, equities research analysts expect that Trex will post 2.04 earnings per share for the current fiscal year.

Institutional Trading of Trex

A number of hedge funds have recently bought and sold shares of TREX. Blue Trust Inc. boosted its holdings in shares of Trex by 134.6% during the third quarter. Blue Trust Inc. now owns 1,769 shares of the construction company’s stock worth $118,000 after purchasing an additional 1,015 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Trex by 7,363.6% in the 3rd quarter. International Assets Investment Management LLC now owns 2,463 shares of the construction company’s stock worth $164,000 after buying an additional 2,430 shares during the last quarter. Ballentine Partners LLC boosted its stake in Trex by 15.5% in the 3rd quarter. Ballentine Partners LLC now owns 3,139 shares of the construction company’s stock worth $209,000 after buying an additional 422 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Trex by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 12,636 shares of the construction company’s stock valued at $841,000 after buying an additional 855 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its holdings in shares of Trex by 69.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,274 shares of the construction company’s stock worth $351,000 after acquiring an additional 2,161 shares during the period. 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.