Trex (NYSE:TREX) Price Target Lowered to $78.00 at Citigroup

Trex (NYSE:TREX) had its price objective cut by Citigroup from $84.00 to $78.00 in a report issued on Monday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

TREX has been the topic of several other reports. Robert W. Baird upped their price objective on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Jefferies Financial Group lowered their price target on shares of Trex from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. BMO Capital Markets lifted their price objective on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Barclays lowered their target price on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Finally, StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Trex has a consensus rating of “Hold” and a consensus price target of $79.81.

Trex Stock Up 1.3 %

Shares of Trex stock opened at $70.32 on Monday. The company has a 50 day moving average price of $72.67 and a 200 day moving average price of $70.52. The firm has a market capitalization of $7.53 billion, a P/E ratio of 32.11, a PEG ratio of 3.50 and a beta of 1.50. Trex has a 52 week low of $58.68 and a 52 week high of $101.91.

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

Institutional Trading of Trex

Institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new position in Trex in the 3rd quarter valued at about $30,000. UMB Bank n.a. lifted its position in shares of Trex by 150.8% in the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock valued at $43,000 after acquiring an additional 392 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Trex in the second quarter worth approximately $44,000. Quarry LP increased its position in shares of Trex by 576.4% during the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after purchasing an additional 513 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Trex by 274.9% during the fourth quarter. GAMMA Investing LLC now owns 701 shares of the construction company’s stock worth $48,000 after purchasing an additional 514 shares in the last quarter. 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.