UBS Group Issues Positive Forecast for Trex (NYSE:TREX) Stock Price

Trex (NYSE:TREX) had its price objective lifted by UBS Group from $72.00 to $74.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

A number of other equities analysts have also recently weighed in on the stock. Robert W. Baird raised shares of Trex from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $65.00 to $75.00 in a research note on Thursday, July 10th. Citigroup lowered their price objective on shares of Trex from $78.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Loop Capital increased their price objective on shares of Trex from $62.00 to $66.00 and gave the company a “hold” rating in a research note on Thursday, July 10th. Barclays lowered their price objective on shares of Trex from $67.00 to $54.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Finally, B. Riley raised shares of Trex to a “strong-buy” rating in a research note on Monday, July 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Trex presently has an average rating of “Moderate Buy” and an average target price of $74.44.

Trex Trading Up 2.5%

Shares of NYSE:TREX opened at $65.90 on Tuesday. The company has a market capitalization of $7.07 billion, a PE ratio of 38.09, a P/E/G ratio of 2.71 and a beta of 1.51. Trex has a twelve month low of $49.01 and a twelve month high of $80.74. The firm has a 50 day simple moving average of $59.37 and a 200-day simple moving average of $60.50.

Trex (NYSE:TREX) last issued its quarterly earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $339.99 million during the quarter, compared to analysts’ expectations of $329.11 million. Trex had a net margin of 16.53% and a return on equity of 21.92%. Trex’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 EPS. As a group, equities research analysts predict that Trex will post 2.04 EPS for the current fiscal year.

Insider Activity

In other news, SVP Jacob T. Rudolph sold 1,500 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $60.27, for a total transaction of $90,405.00. Following the transaction, the senior vice president directly owned 27,527 shares in the company, valued at $1,659,052.29. This represents a 5.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Amy M. Fernandez sold 2,366 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $61.17, for a total transaction of $144,728.22. Following the transaction, the senior vice president owned 24,569 shares in the company, valued at approximately $1,502,885.73. The trade was a 8.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Bank of Montreal Can lifted its holdings in shares of Trex by 331.5% during the 2nd quarter. Bank of Montreal Can now owns 66,733 shares of the construction company’s stock worth $3,629,000 after acquiring an additional 51,269 shares during the period. Montanaro Asset Management Ltd lifted its holdings in shares of Trex by 2.6% during the 2nd quarter. Montanaro Asset Management Ltd now owns 300,462 shares of the construction company’s stock worth $16,339,000 after acquiring an additional 7,662 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Trex by 0.8% during the 2nd quarter. State of Michigan Retirement System now owns 25,822 shares of the construction company’s stock worth $1,404,000 after acquiring an additional 200 shares during the period. Geneva Capital Management LLC lifted its holdings in shares of Trex by 7.6% during the 2nd quarter. Geneva Capital Management LLC now owns 1,722,606 shares of the construction company’s stock worth $93,675,000 after acquiring an additional 121,722 shares during the period. Finally, Retirement Systems of Alabama lifted its holdings in shares of Trex by 0.5% during the 2nd quarter. Retirement Systems of Alabama now owns 131,057 shares of the construction company’s stock worth $7,127,000 after acquiring an additional 650 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

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.