Trex (NYSE:TREX – Get Rating) had its target price reduced by Stifel Nicolaus from $135.00 to $120.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 44.75% from the stock’s previous close.
A number of other brokerages have also commented on TREX. UBS Group started coverage on shares of Trex in a report on Wednesday, January 19th. They issued a “neutral” rating and a $111.00 price target on the stock. BMO Capital Markets upped their price objective on shares of Trex from $98.00 to $105.00 and gave the company a “market perform” rating in a research note on Tuesday, November 9th. Zacks Investment Research raised shares of Trex from a “sell” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. cut shares of Trex from a “neutral” rating to an “underweight” rating and set a $135.00 price objective for the company. in a research note on Wednesday, December 15th. They noted that the move was a valuation call. Finally, Stephens upped their price objective on shares of Trex from $120.00 to $134.00 and gave the company an “overweight” rating in a research note on Tuesday, November 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $118.62.
Shares of NYSE TREX traded down $8.94 during midday trading on Tuesday, hitting $82.90. The company’s stock had a trading volume of 41,891 shares, compared to its average volume of 1,217,105. The stock has a fifty day moving average price of $104.20 and a 200 day moving average price of $111.00. Trex has a one year low of $78.20 and a one year high of $140.98. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 42.30 and a beta of 1.37.
Trex (NYSE:TREX – Get Rating) last posted its quarterly earnings results on Monday, February 28th. The construction company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. Trex had a net margin of 20.21% and a return on equity of 35.57%. The company had revenue of $303.96 million for the quarter, compared to analyst estimates of $302.64 million. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The company’s quarterly revenue was up 33.1% compared to the same quarter last year. As a group, analysts expect that Trex will post 2.1 EPS for the current year.
In other news, Director Michael F. Golden sold 4,795 shares of the firm’s stock in a transaction dated Thursday, December 2nd. The shares were sold at an average price of $133.53, for a total value of $640,276.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.69% of the company’s stock.
Several large investors have recently bought and sold shares of the company. JustInvest LLC grew its holdings in Trex by 115.5% in the fourth quarter. JustInvest LLC now owns 8,144 shares of the construction company’s stock worth $1,100,000 after purchasing an additional 4,365 shares during the period. Comerica Bank increased its stake in shares of Trex by 0.6% during the fourth quarter. Comerica Bank now owns 263,718 shares of the construction company’s stock valued at $24,122,000 after purchasing an additional 1,653 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Trex by 55.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 396,540 shares of the construction company’s stock valued at $53,545,000 after purchasing an additional 142,149 shares in the last quarter. Virtu Financial LLC increased its stake in shares of Trex by 133.0% during the fourth quarter. Virtu Financial LLC now owns 5,521 shares of the construction company’s stock valued at $746,000 after purchasing an additional 3,151 shares in the last quarter. Finally, Scholtz & Company LLC increased its stake in shares of Trex by 36.8% during the fourth quarter. Scholtz & Company LLC now owns 51,383 shares of the construction company’s stock valued at $6,938,000 after purchasing an additional 13,811 shares in the last quarter. 92.78% of the stock is owned by hedge funds and other institutional investors.
About Trex
Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.