Barclays Increases Trex (NYSE:TREX) Price Target to $99.00


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Trex (NYSE:TREX) had its price target raised by Barclays from $82.00 to $99.00 in a note issued to investors on Tuesday, The Fly reports. The firm currently has an “equal weight” rating on the construction company’s stock. Barclays‘s target price indicates a potential downside of 1.19% from the stock’s previous close.

Other equities analysts have also issued reports about the company. DA Davidson boosted their price target on Trex from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, November 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on Trex from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, November 3rd. BNP Paribas upgraded Trex from an “underperform” rating to a “neutral” rating and set a $71.00 price target on the stock in a research note on Thursday, November 5th. BMO Capital Markets started coverage on Trex in a research note on Wednesday, January 13th. They set a “market perform” rating and a $90.00 price target on the stock. Finally, Zacks Investment Research lowered Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, January 27th. Thirteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $75.77.

Trex stock opened at $100.19 on Tuesday. Trex has a 52 week low of $28.11 and a 52 week high of $107.64. The firm has a market capitalization of $11.60 billion, a PE ratio of 69.34 and a beta of 1.46. The business’s 50-day simple moving average is $96.23 and its 200-day simple moving average is $81.02.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Perigon Wealth Management LLC bought a new stake in Trex during the 4th quarter worth approximately $27,000. NEXT Financial Group Inc bought a new stake in Trex during the 3rd quarter worth approximately $26,000. Tompkins Financial Corp bought a new stake in Trex during the 4th quarter worth approximately $31,000. HM Payson & Co. grew its position in Trex by 100.0% during the 3rd quarter. HM Payson & Co. now owns 400 shares of the construction company’s stock worth $29,000 after acquiring an additional 200 shares during the last quarter. Finally, Graves Light Private Wealth Management Inc. bought a new stake in Trex during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 98.56% of the company’s stock.

Trex Company Profile

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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Analyst Recommendations for Trex (NYSE:TREX)

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