Trex (NYSE:TREX) PT Raised to $100.00

Trex (NYSE:TREX) had its price objective upped by analysts at Truist from $73.00 to $100.00 in a note issued to investors on Tuesday, The Fly reports. Truist’s target price suggests a potential upside of 10.58% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, January 27th. Exane BNP Paribas raised Trex from an “underperform” rating to a “neutral” rating and set a $71.00 target price on the stock in a research note on Thursday, November 5th. BMO Capital Markets initiated coverage on Trex in a research note on Wednesday, January 13th. They issued a “market perform” rating and a $90.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their target price on Trex from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, November 3rd. Finally, Barclays increased their price objective on Trex from $82.00 to $99.00 and gave the company an “equal weight” rating in a research report on Tuesday. Thirteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $80.78.

TREX stock traded down $9.76 during midday trading on Tuesday, hitting $90.43. The company had a trading volume of 68,916 shares, compared to its average volume of 721,651. Trex has a 52 week low of $28.11 and a 52 week high of $107.64. The stock’s 50 day moving average price is $96.23 and its 200 day moving average price is $81.02. The stock has a market cap of $10.47 billion, a price-to-earnings ratio of 62.58 and a beta of 1.46.

Trex (NYSE:TREX) last announced its quarterly earnings data on Sunday, February 21st. The construction company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The firm had revenue of $228.29 million during the quarter, compared to the consensus estimate of $215.99 million. Trex had a return on equity of 35.52% and a net margin of 20.53%. The business’s revenue was up 38.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.31 earnings per share. Equities research analysts predict that Trex will post 1.54 EPS for the current year.

A number of large investors have recently made changes to their positions in TREX. BlackRock Inc. boosted its position in Trex by 114.6% in the third quarter. BlackRock Inc. now owns 12,092,076 shares of the construction company’s stock worth $865,793,000 after purchasing an additional 6,458,552 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Trex by 89.5% in the third quarter. William Blair Investment Management LLC now owns 3,838,727 shares of the construction company’s stock worth $274,853,000 after buying an additional 1,812,852 shares during the period. State Street Corp raised its stake in shares of Trex by 107.1% in the third quarter. State Street Corp now owns 3,431,203 shares of the construction company’s stock worth $245,674,000 after buying an additional 1,774,143 shares during the period. Wasatch Advisors Inc. raised its stake in shares of Trex by 97.1% in the third quarter. Wasatch Advisors Inc. now owns 3,527,177 shares of the construction company’s stock worth $252,546,000 after buying an additional 1,737,709 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Trex by 137.9% in the third quarter. JPMorgan Chase & Co. now owns 2,857,009 shares of the construction company’s stock worth $202,248,000 after buying an additional 1,656,201 shares during the period. 98.56% of the stock is currently owned by institutional investors and hedge funds.

About Trex

Trex Company, Inc manufactures and distributes wood and plastic composite products, and related accessories for residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Select, and Trex Enhance protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.

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