Trex (NYSE:TREX) had its price target raised by equities researchers at Barclays from $99.00 to $104.00 in a research report issued on Thursday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the construction company’s stock. Barclays‘s price target points to a potential upside of 8.90% from the company’s current price.
A number of other analysts have also weighed in on the stock. 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 Friday, February 26th. DA Davidson increased their price objective on shares of Trex from $75.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, March 1st. Truist raised their price target on shares of Trex from $73.00 to $100.00 in a research report on Tuesday, February 23rd. Finally, Loop Capital started coverage on shares of Trex in a research report on Wednesday. They set a “buy” rating and a $110.00 price target on the stock. Thirteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $82.32.
Shares of NYSE:TREX traded up $0.76 during midday trading on Thursday, reaching $95.50. The company’s stock had a trading volume of 6,885 shares, compared to its average volume of 790,177. The firm has a market capitalization of $11.06 billion, a PE ratio of 66.10 and a beta of 1.46. Trex has a twelve month low of $37.03 and a twelve month high of $107.64. The stock has a fifty day moving average of $93.52 and a 200 day moving average of $84.64.
Trex (NYSE:TREX) last released its quarterly earnings data on Sunday, February 21st. The construction company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. The firm had revenue of $228.29 million for the quarter, compared to analyst estimates of $215.99 million. Trex had a net margin of 20.53% and a return on equity of 35.52%. The business’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share. Equities analysts predict that Trex will post 1.54 EPS for the current year.
In other news, Director Jay M. Gratz sold 3,692 shares of the business’s stock in a transaction that occurred on Friday, March 26th. The shares were sold at an average price of $90.13, for a total value of $332,759.96. Following the sale, the director now directly owns 24,770 shares of the company’s stock, valued at approximately $2,232,520.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bryan Horix Fairbanks sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 24th. The shares were sold at an average price of $92.02, for a total transaction of $368,080.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,280 shares of company stock worth $1,860,572. Insiders own 0.79% of the company’s stock.
Several hedge funds have recently made changes to their positions in TREX. Perigon Wealth Management LLC acquired a new position in shares of Trex in the fourth quarter valued at approximately $27,000. HM Payson & Co. grew its holdings in shares of Trex by 100.0% in the third quarter. HM Payson & Co. now owns 400 shares of the construction company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Tompkins Financial Corp acquired a new position in shares of Trex in the fourth quarter valued at approximately $31,000. Graves Light Private Wealth Management Inc. acquired a new position in shares of Trex in the fourth quarter valued at approximately $33,000. Finally, Montag A & Associates Inc. acquired a new position in shares of Trex in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 98.56% of the company’s stock.
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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