Truist Financial Lowers Trex (NYSE:TREX) Price Target to $90.00

Trex (NYSE:TREX) had its price objective lowered by Truist Financial from $100.00 to $90.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Truist Financial’s price objective suggests a potential upside of 46.25% from the stock’s previous close.

Other analysts also recently issued reports about the stock. UBS Group dropped their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday. Citigroup lowered their price target 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. Robert W. Baird increased their price target on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Finally, DA Davidson reissued a “neutral” rating and set a $74.00 price target on shares of Trex in a report on Tuesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $78.38.

Trex Price Performance

TREX stock opened at $61.54 on Tuesday. The firm’s fifty day simple moving average is $69.34 and its 200-day simple moving average is $68.69. The company has a market capitalization of $6.59 billion, a P/E ratio of 28.10, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. Trex has a 12 month low of $58.68 and a 12 month high of $101.91.

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

Hedge Funds Weigh In On Trex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TREX. Xponance Inc. raised its position in shares of Trex by 0.7% in the fourth quarter. Xponance Inc. now owns 21,605 shares of the construction company’s stock valued at $1,491,000 after buying an additional 143 shares during the last quarter. Principal Securities Inc. raised its position in shares of Trex by 5.0% in the fourth quarter. Principal Securities Inc. now owns 3,082 shares of the construction company’s stock valued at $213,000 after buying an additional 147 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Trex by 0.9% in the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock valued at $1,102,000 after buying an additional 148 shares during the last quarter. Harrington Investments INC raised its position in shares of Trex by 1.8% in the fourth quarter. Harrington Investments INC now owns 9,106 shares of the construction company’s stock valued at $629,000 after buying an additional 159 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Trex by 9.1% in the fourth quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company’s stock valued at $140,000 after buying an additional 170 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other 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.