Trex (NYSE:TREX) Price Target Cut to $35.00 by Analysts at Barclays

Trex (NYSE:TREX) had its target price trimmed by Barclays from $39.00 to $35.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an underweight rating on the construction company’s stock.

A number of other analysts have also recently weighed in on TREX. DA Davidson upped their price target on shares of Trex from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. The Goldman Sachs Group set a $54.00 price target on shares of Trex and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Wall Street Zen raised shares of Trex from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Trex in a research report on Friday, March 27th. Finally, Robert W. Baird set a $48.00 price target on shares of Trex in a research report on Monday, January 12th. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Trex has an average rating of “Hold” and a consensus price target of $47.58.

Trex Trading Up 5.0%

Shares of Trex stock opened at $37.21 on Wednesday. The company has a fifty day moving average price of $39.51 and a 200 day moving average price of $40.64. Trex has a twelve month low of $29.77 and a twelve month high of $68.78. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 8.18 and a beta of 1.61.

Trex (NYSE:TREX) last announced its quarterly earnings results on Tuesday, February 24th. The construction company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. Trex had a net margin of 16.22% and a return on equity of 20.29%. The firm had revenue of $161.13 million during the quarter, compared to analysts’ expectations of $144.39 million. During the same period in the prior year, the company earned $0.09 EPS. The firm’s revenue was down 3.9% on a year-over-year basis. Analysts forecast that Trex will post 2.04 earnings per share for the current year.

Hedge Funds Weigh In On Trex

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. purchased a new position in Trex in the 3rd quarter valued at about $31,000. V Square Quantitative Management LLC purchased a new position in Trex in the 4th quarter valued at about $27,000. Clearstead Trust LLC purchased a new position in Trex in the 4th quarter valued at about $33,000. Rothschild Investment LLC purchased a new position in Trex in the 3rd quarter valued at about $60,000. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Trex in the 4th quarter valued at about $47,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

About Trex

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.