Jefferies Financial Group Lowers Trex (NYSE:TREX) Price Target to $73.00

Trex (NYSE:TREX) had its target price dropped by Jefferies Financial Group from $77.00 to $73.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the construction company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 12.92% from the company’s current price.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets cut their target price on shares of Trex from $88.00 to $82.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Stifel Nicolaus reduced their price objective on shares of Trex from $110.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. B. Riley dropped their target price on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Citigroup reduced their price target on Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Finally, The Goldman Sachs Group decreased their price objective on Trex from $114.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $81.31.

Trex Price Performance

Shares of TREX traded up $0.02 during mid-day trading on Wednesday, reaching $64.65. 1,330,905 shares of the company’s stock traded hands, compared to its average volume of 958,758. Trex has a 12 month low of $53.59 and a 12 month high of $101.91. The stock has a market cap of $7.03 billion, a P/E ratio of 27.75, a P/E/G ratio of 2.25 and a beta of 1.50. The stock’s 50-day moving average is $66.15 and its two-hundred day moving average is $78.92.

Trex (NYSE:TREX) last issued its earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $376.47 million during the quarter, compared to analyst estimates of $387.87 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 earnings per share. Research analysts predict that Trex will post 2.04 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of Trex during the fourth quarter worth $25,000. Mather Group LLC. purchased a new position in shares of Trex during the 1st quarter valued at about $26,000. Hantz Financial Services Inc. acquired a new position in shares of Trex in the 2nd quarter valued at about $31,000. Sunbelt Securities Inc. boosted its stake in shares of Trex by 1,744.4% in the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after buying an additional 314 shares during the last quarter. Finally, Rise Advisors LLC grew its holdings in Trex by 305.0% during the first quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock worth $40,000 after acquiring an additional 305 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

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.