Trex (NYSE:TREX) PT Raised to $72.00 at BMO Capital Markets

Trex (NYSE:TREX) had its target price hoisted by stock analysts at BMO Capital Markets from $67.00 to $72.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the construction company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 3.39% from the company’s current price.

A number of other brokerages also recently issued reports on TREX. StockNews.com raised shares of Trex from a “sell” rating to a “hold” rating in a research report on Thursday, September 19th. Truist Financial decreased their price objective on Trex from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Stephens downgraded shares of Trex from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $115.00 to $72.00 in a report on Wednesday, August 7th. Finally, Barclays reduced their price objective on shares of Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $80.31.

Trex Stock Up 4.7 %

Shares of NYSE TREX traded up $3.13 during trading on Tuesday, reaching $69.64. 2,159,489 shares of the company traded hands, compared to its average volume of 980,004. The firm has a 50 day simple moving average of $65.23 and a 200-day simple moving average of $75.72. Trex has a 52-week low of $54.57 and a 52-week high of $101.91. The stock has a market capitalization of $7.57 billion, a PE ratio of 28.55, a P/E/G ratio of 2.45 and a beta of 1.50.

Trex (NYSE:TREX) last issued its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.05. The company had revenue of $233.72 million for the quarter, compared to analysts’ expectations of $225.42 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The firm’s quarterly revenue was down 23.1% on a year-over-year basis. During the same quarter last year, the company posted $0.57 earnings per share. As a group, research analysts predict that Trex will post 2.04 EPS for the current year.

Institutional Trading of Trex

A number of large investors have recently added to or reduced their stakes in the company. Covestor Ltd increased its position in Trex by 11.3% in the first quarter. Covestor Ltd now owns 1,213 shares of the construction company’s stock worth $121,000 after purchasing an additional 123 shares during the last quarter. Harrington Investments INC grew its position in Trex by 1.4% in the second quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock worth $727,000 after acquiring an additional 140 shares in the last quarter. Avantax Advisory Services Inc. raised its position in Trex by 4.6% during the first quarter. Avantax Advisory Services Inc. now owns 3,950 shares of the construction company’s stock valued at $394,000 after purchasing an additional 173 shares during the period. First Citizens Bank & Trust Co. lifted its stake in shares of Trex by 2.6% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company’s stock valued at $523,000 after purchasing an additional 176 shares during the last quarter. Finally, Values First Advisors Inc. boosted its holdings in shares of Trex by 3.6% in the 2nd quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company’s stock worth $497,000 after purchasing an additional 230 shares during the period. Institutional investors own 95.96% of the company’s stock.

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.