Trex (NYSE:TREX) PT Raised to $99.00

Trex (NYSE:TREX) had its price target lifted by Barclays from $82.00 to $99.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage presently has an “equal weight” rating on the construction company’s stock. Barclays‘s price objective points to a potential downside of 1.19% from the company’s current price.

A number of other research analysts have also weighed in on TREX. UBS Group initiated coverage on shares of Trex in a research note on Tuesday, December 8th. They issued a “buy” rating and a $94.00 price objective on the stock. Exane BNP Paribas raised shares of Trex from an “underperform” rating to a “neutral” rating and set a $71.00 price objective on the stock in a research note on Thursday, November 5th. BMO Capital Markets initiated coverage on shares of Trex in a research note on Wednesday, January 13th. They issued a “market perform” rating and a $90.00 price objective on the stock. Zacks Investment Research lowered shares of Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, January 27th. Finally, BNP Paribas raised shares of Trex from an “underperform” rating to a “neutral” rating and set a $71.00 price objective on the stock in a research note on Thursday, November 5th. 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 a consensus target price of $75.77.

Shares of TREX stock opened at $100.19 on Tuesday. The firm has a market capitalization of $11.60 billion, a price-to-earnings ratio of 69.34 and a beta of 1.46. The business’s 50-day moving average price is $96.23 and its 200-day moving average price is $81.02. Trex has a 12 month low of $28.11 and a 12 month high of $107.64.

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

Several institutional investors and hedge funds have recently modified their holdings of the company. Treasurer of the State of North Carolina boosted its position in shares of Trex by 0.3% in the 4th quarter. Treasurer of the State of North Carolina now owns 42,530 shares of the construction company’s stock worth $3,561,000 after purchasing an additional 110 shares in the last quarter. M&T Bank Corp raised its stake in shares of Trex by 3.2% in the fourth quarter. M&T Bank Corp now owns 4,109 shares of the construction company’s stock worth $345,000 after purchasing an additional 126 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Trex by 31.8% during the fourth quarter. CENTRAL TRUST Co now owns 704 shares of the construction company’s stock valued at $59,000 after purchasing an additional 170 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of Trex by 15.4% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,278 shares of the construction company’s stock valued at $97,000 after buying an additional 171 shares during the last quarter. Finally, Texas Yale Capital Corp. boosted its position in shares of Trex by 3.3% during the fourth quarter. Texas Yale Capital Corp. now owns 5,413 shares of the construction company’s stock valued at $453,000 after buying an additional 175 shares during the last quarter. 98.56% of the stock is currently owned by hedge funds and other institutional investors.

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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