Trex (NYSE:TREX) Price Target Cut to $42.00 by Analysts at Bank of America

Trex (NYSE:TREX) had its target price lowered by Bank of America from $43.00 to $42.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an underperform rating on the construction company’s stock.

A number of other equities research analysts also recently issued reports on TREX. Citigroup increased their price target on shares of Trex from $39.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. DA Davidson increased their price target on shares of Trex from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Loop Capital raised shares of Trex from a “hold” rating to a “buy” rating and increased their price target for the stock from $45.00 to $53.00 in a report on Wednesday, February 25th. Zacks Research raised shares of Trex from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Finally, Benchmark downgraded shares of Trex from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.88.

Trex Trading Up 1.8%

Shares of Trex stock opened at $43.55 on Monday. Trex has a 12-month low of $29.77 and a 12-month high of $68.78. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 9.89 and a beta of 1.61. The company’s 50-day moving average price is $39.24 and its 200-day moving average price is $39.97.

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, 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 for the quarter, compared to the consensus estimate of $144.39 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, sell-side analysts predict that Trex will post 1.63 earnings per share for the current year.

Institutional Investors Weigh In On Trex

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC raised its stake in Trex by 17.5% in the first quarter. SG Americas Securities LLC now owns 121,784 shares of the construction company’s stock valued at $4,435,000 after purchasing an additional 18,181 shares in the last quarter. Hsbc Holdings PLC raised its stake in Trex by 97.6% in the fourth quarter. Hsbc Holdings PLC now owns 68,812 shares of the construction company’s stock valued at $2,428,000 after purchasing an additional 33,991 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Trex by 155.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 6,260 shares of the construction company’s stock valued at $220,000 after purchasing an additional 3,810 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Trex by 159.3% during the fourth quarter. Corient Private Wealth LLC now owns 10,052 shares of the construction company’s stock worth $353,000 after acquiring an additional 6,175 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Trex by 38.8% during the fourth quarter. Invesco Ltd. now owns 287,265 shares of the construction company’s stock worth $10,077,000 after acquiring an additional 80,261 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.