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

Trex (NYSE:TREX) had its price target reduced by equities researchers at Jefferies Financial Group from $81.00 to $71.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the construction company’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 15.37% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Truist Financial cut their price objective on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday. Robert W. Baird boosted their price objective on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. UBS Group cut their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Barclays cut their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $78.38.

Trex Stock Performance

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

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The company 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%. On average, research analysts predict that Trex will post 2.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Trex

Several hedge funds and other institutional investors have recently modified their holdings of TREX. Wilmington Savings Fund Society FSB purchased a new position in Trex during the 3rd quarter worth approximately $30,000. Mather Group LLC. raised its position in Trex by 73.5% during the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after buying an additional 191 shares during the last quarter. Avior Wealth Management LLC raised its position in Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after buying an additional 473 shares during the last quarter. Huntington National Bank raised its position in Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company’s stock worth $39,000 after buying an additional 393 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Trex during the 4th quarter worth approximately $41,000. 95.96% of the stock is owned by hedge funds and other 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.