DA Davidson Forecasts Strong Price Appreciation for Trex (NYSE:TREX) Stock

Trex (NYSE:TREX) had its price target boosted by research analysts at DA Davidson from $50.00 to $51.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. DA Davidson’s price objective would suggest a potential upside of 36.73% from the company’s current price.

TREX has been the subject of a number of other research reports. UBS Group raised their target price on shares of Trex from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Wall Street Zen raised shares of Trex from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Loop Capital upgraded shares of Trex from a “hold” rating to a “buy” rating and raised their price objective for the stock from $45.00 to $53.00 in a research report on Wednesday, February 25th. Zacks Research upgraded Trex from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Finally, Robert W. Baird set a $48.00 target price on Trex in a research report on Monday, January 12th. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $47.78.

Trex Trading Down 2.3%

TREX stock opened at $37.30 on Wednesday. Trex has a 1-year low of $29.77 and a 1-year high of $68.78. The business’s 50 day simple moving average is $41.25 and its 200 day simple moving average is $43.92. The firm has a market capitalization of $3.94 billion, a PE ratio of 21.07, a PEG ratio of 8.77 and a beta of 1.58.

Trex (NYSE:TREX) last announced its quarterly earnings results on Tuesday, February 24th. The construction company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.05. Trex had a return on equity of 20.29% and a net margin of 16.22%.The business had revenue of $161.13 million during the quarter, compared to the consensus estimate of $144.39 million. During the same quarter last year, the firm posted $0.09 EPS. The company’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, sell-side analysts predict that Trex will post 2.04 EPS for the current fiscal year.

Institutional Trading of Trex

A number of institutional investors have recently bought and sold shares of TREX. AQR Capital Management LLC increased its holdings in shares of Trex by 3.2% during the first quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock worth $320,000 after purchasing an additional 177 shares during the period. Goldman Sachs Group Inc. grew its position in Trex by 91.3% during the first quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock worth $47,803,000 after buying an additional 392,715 shares in the last quarter. Bank of Montreal Can grew its position in Trex by 331.5% during the second quarter. Bank of Montreal Can now owns 66,733 shares of the construction company’s stock worth $3,629,000 after buying an additional 51,269 shares in the last quarter. Resona Asset Management Co. Ltd. increased its stake in Trex by 31.1% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 2,234 shares of the construction company’s stock worth $123,000 after acquiring an additional 530 shares during the period. Finally, ProShare Advisors LLC raised its holdings in Trex by 4.1% in the 2nd quarter. ProShare Advisors LLC now owns 4,754 shares of the construction company’s stock valued at $259,000 after acquiring an additional 189 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.