JPMorgan Chase & Co. Has Lowered Expectations for Trex (NYSE:TREX) Stock Price

Trex (NYSE:TREX) had its target price cut by investment analysts at JPMorgan Chase & Co. from $79.00 to $73.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 26.81% from the company’s current price.

Several other equities research analysts also recently weighed in on TREX. Jefferies Financial Group reduced their target price on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research note on Tuesday, February 25th. Citigroup reduced their target price on shares of Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Benchmark reissued a “buy” rating and issued a $80.00 target price on shares of Trex in a research note on Monday. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Bank of America reduced their price target on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $78.63.

Trex Trading Down 1.9 %

Shares of TREX opened at $57.57 on Wednesday. Trex has a twelve month low of $56.31 and a twelve month high of $100.77. The company has a market cap of $6.17 billion, a P/E ratio of 26.29, a P/E/G ratio of 2.51 and a beta of 1.51. The company’s fifty day simple moving average is $68.22 and its 200-day simple moving average is $68.63.

Trex (NYSE:TREX) last announced its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. Analysts predict that Trex will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the sale, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. This trade represents a 45.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.71% of the company’s stock.

Institutional Trading of Trex

A number of institutional investors have recently modified their holdings of TREX. International Assets Investment Management LLC boosted its holdings in shares of 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 valued at $164,000 after buying an additional 2,430 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of 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 in the last quarter. US Bancorp DE boosted its holdings in shares of Trex by 23.8% in the 3rd quarter. US Bancorp DE now owns 13,675 shares of the construction company’s stock valued at $910,000 after buying an additional 2,629 shares in the last quarter. Stephens Inc. AR boosted its holdings in shares of Trex by 7.1% in the 3rd quarter. Stephens Inc. AR now owns 5,693 shares of the construction company’s stock valued at $379,000 after buying an additional 375 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Trex by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 81,726 shares of the construction company’s stock worth $5,137,000 after purchasing an additional 23,351 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

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.