Trex (NYSE:TREX) Given New $71.00 Price Target at Jefferies Financial Group

Trex (NYSE:TREX) had its price objective decreased by Jefferies Financial Group from $81.00 to $71.00 in a research note issued to investors on Tuesday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the construction company’s stock.

Several other analysts have also weighed in on TREX. BMO Capital Markets raised their price objective on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Barclays dropped their price target on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. Bank of America reduced their price objective on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research note on Tuesday. Citigroup lowered their target price on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, UBS Group reduced their price target on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $78.38.

Trex Price Performance

Shares of NYSE:TREX opened at $62.33 on Tuesday. The business’s fifty day moving average price is $69.54 and its two-hundred day moving average price is $68.74. Trex has a fifty-two week low of $58.68 and a fifty-two week high of $101.91. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51.

Trex (NYSE:TREX) last posted its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. The business had revenue of $167.63 million for the quarter, compared to analyst estimates of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Research analysts expect that Trex will post 2.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Trex

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

Trex Company Profile

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.