Trex’s (TREX) Neutral Rating Reaffirmed at DA Davidson

Trex (NYSE:TREX)‘s stock had its “neutral” rating restated by stock analysts at DA Davidson in a research note issued on Tuesday,Benzinga reports. They presently have a $74.00 target price on the construction company’s stock. DA Davidson’s price target indicates a potential upside of 20.14% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Robert W. Baird raised their target price on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. BMO Capital Markets boosted their price target on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Bank of America cut their price objective on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Citigroup decreased their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $78.50.

Trex Stock Performance

NYSE:TREX traded down $0.07 during trading hours on Tuesday, reaching $61.60. The company’s stock had a trading volume of 1,293,837 shares, compared to its average volume of 1,255,224. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 2.51 and a beta of 1.51. The firm has a 50-day simple moving average of $69.83 and a 200-day simple moving average of $68.73. Trex has a 1 year low of $58.68 and a 1 year high of $101.91.

Trex (NYSE:TREX) last issued 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 during the quarter, compared to analysts’ expectations of $160.48 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Equities analysts anticipate that Trex will post 2.04 earnings per share for the current fiscal year.

Institutional Trading of Trex

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