DA Davidson Increases Trex (NYSE:TREX) Price Target to $110.00

Trex (NYSE:TREX) had its price target lifted by DA Davidson from $85.00 to $110.00 in a research note issued to investors on Tuesday, The Fly reports. DA Davidson also issued estimates for Trex’s Q2 2020 earnings at $0.66 EPS, FY2020 earnings at $2.62 EPS and FY2021 earnings at $2.86 EPS.

Other equities analysts have also recently issued research reports about the company. Benchmark lifted their price objective on Trex from $116.00 to $136.00 and gave the company a buy rating in a research note on Thursday, June 18th. They noted that the move was a valuation call. Stifel Nicolaus boosted their target price on Trex from $115.00 to $138.00 and gave the stock a buy rating in a research note on Tuesday, June 30th. Zacks Investment Research cut Trex from a buy rating to a hold rating in a research note on Saturday, March 28th. B. Riley boosted their target price on Trex from $100.00 to $125.00 in a research note on Tuesday, July 7th. Finally, ValuEngine lowered Trex from a sell rating to a strong sell rating in a research report on Wednesday, April 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $117.50.

Shares of NYSE TREX opened at $134.03 on Tuesday. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of 50.20 and a beta of 1.71. The company has a quick ratio of 2.25, a current ratio of 2.75 and a debt-to-equity ratio of 0.07. Trex has a 52-week low of $56.22 and a 52-week high of $135.32. The business’s 50 day moving average is $122.71 and its two-hundred day moving average is $102.10.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, May 4th. The construction company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.13. The business had revenue of $200.40 million for the quarter, compared to analyst estimates of $196.40 million. Trex had a return on equity of 36.67% and a net margin of 20.31%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. Analysts anticipate that Trex will post 2.69 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in shares of Trex by 56.5% in the first quarter. Parallel Advisors LLC now owns 313 shares of the construction company’s stock valued at $25,000 after purchasing an additional 113 shares during the period. Rockefeller Capital Management L.P. acquired a new position in shares of Trex in the first quarter valued at approximately $26,000. Exchange Traded Concepts LLC acquired a new position in shares of Trex in the first quarter valued at approximately $31,000. HHM Wealth Advisors LLC acquired a new position in shares of Trex in the first quarter valued at approximately $32,000. Finally, Pearl River Capital LLC acquired a new position in shares of Trex in the first quarter valued at approximately $40,000.

About Trex

Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

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