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

by · The Markets Daily

Trex (NYSE:TREX – Free Report) had its price objective decreased by Jefferies Financial Group from $77.00 to $73.00 in a report issued on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the construction company’s stock.

TREX has been the topic of a number of other research reports. Barclays dropped their price target on Trex from $94.00 to $81.00 and set an underweight rating on the stock in a research note on Friday, July 12th. StockNews.com upgraded shares of Trex from a sell rating to a hold rating in a research note on Thursday, September 19th. Loop Capital downgraded shares of Trex from a buy rating to a hold rating and lowered their price objective for the stock from $95.00 to $75.00 in a research note on Wednesday, August 7th. Bank of America cut their target price on Trex from $97.00 to $85.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Finally, B. Riley reduced their target price on Trex from $107.00 to $97.00 and set a buy rating for the company in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Trex currently has an average rating of Hold and an average price target of $81.31.

View Our Latest Research Report on TREX

Trex Stock Up 1.4 %

NYSE TREX opened at $64.49 on Wednesday. The firm has a market cap of $7.01 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 2.15 and a beta of 1.50. Trex has a 52 week low of $53.59 and a 52 week high of $101.91. The company has a 50 day moving average price of $65.18 and a 200 day moving average price of $78.33.

Trex (NYSE:TREX – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $376.47 million for the quarter, compared to the consensus estimate of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, equities research analysts anticipate that Trex will post 2.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trex

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

Trex Company Profile

(Get Free Report)

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.

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