Trex (NYSE:TREX) Price Target Raised to $58.00 at DA Davidson

Trex (NYSE:TREX – Get Rating) had its target price lifted by DA Davidson from $48.00 to $58.00 in a research report sent to investors on Tuesday, The Fly reports.

A number of other brokerages have also commented on TREX. Barclays raised their price target on Trex from $53.00 to $57.00 in a report on Tuesday. Loop Capital lifted their target price on Trex from $64.00 to $65.00 in a report on Tuesday. StockNews.com raised Trex from a sell rating to a hold rating in a report on Friday, May 5th. UBS Group lifted their target price on Trex from $56.00 to $59.00 in a report on Tuesday. Finally, B. Riley lowered their target price on Trex from $65.00 to $62.00 and set a buy rating on the stock in a report on Tuesday, February 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $62.00.

Trex Price Performance

Shares of NYSE TREX opened at $60.89 on Tuesday. Trex has a 1-year low of $38.68 and a 1-year high of $67.78. The business’s fifty day moving average price is $50.79 and its two-hundred day moving average price is $48.87. The firm has a market capitalization of $6.62 billion, a PE ratio of 37.36, a P/E/G ratio of 7.55 and a beta of 1.49.

Trex (NYSE:TREX – Get Rating) last issued its quarterly earnings results on Monday, May 8th. The construction company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $239.00 million for the quarter, compared to analyst estimates of $237.65 million. Trex had a return on equity of 29.86% and a net margin of 15.37%. The company’s quarterly revenue was down 29.5% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. Equities research analysts expect that Trex will post 1.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trex

Institutional investors have recently bought and sold shares of the business. Covestor Ltd boosted its position in Trex by 178.8% during the 1st quarter. Covestor Ltd now owns 382 shares of the construction company’s stock worth $25,000 after acquiring an additional 245 shares during the period. Signaturefd LLC raised its stake in shares of Trex by 175.9% during the 1st quarter. Signaturefd LLC now owns 549 shares of the construction company’s stock worth $27,000 after purchasing an additional 350 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Trex by 1,346.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 723 shares of the construction company’s stock worth $31,000 after purchasing an additional 673 shares in the last quarter. Ossiam raised its stake in shares of Trex by 36,666.7% during the 4th quarter. Ossiam now owns 1,103 shares of the construction company’s stock worth $47,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Trex by 105.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,278 shares of the construction company’s stock worth $54,000 after purchasing an additional 657 shares in the last quarter. 94.64% of the stock is currently owned by institutional investors and hedge funds.

About Trex

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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.