Trex (NYSE:TREX) Given New $68.00 Price Target at Barclays

Trex (NYSE:TREXGet Rating) had its price target decreased by Barclays from $84.00 to $68.00 in a research note published on Tuesday morning, The Fly reports.

Several other equities research analysts also recently commented on the company. Robert W. Baird lowered their target price on Trex from $120.00 to $95.00 in a research report on Tuesday, March 1st. Berenberg Bank restated a buy rating and set a $102.00 price objective on shares of Trex in a report on Friday, March 18th. Exane BNP Paribas cut shares of Trex from a neutral rating to an underperform rating and set a $81.00 price objective for the company. in a report on Monday, March 28th. DA Davidson restated a neutral rating on shares of Trex in a report on Tuesday, March 1st. Finally, Credit Suisse Group started coverage on Trex in a research note on Tuesday, April 5th. They set an underperform rating and a $65.00 price target for the company. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Trex currently has a consensus rating of Hold and a consensus price target of $94.17.

Shares of NYSE TREX opened at $62.80 on Tuesday. The firm has a market cap of $7.11 billion, a PE ratio of 31.24, a P/E/G ratio of 1.43 and a beta of 1.44. The company’s fifty day simple moving average is $66.00 and its 200 day simple moving average is $96.55. Trex has a 12-month low of $51.76 and a 12-month high of $140.98.

Trex (NYSE:TREXGet Rating) last released its quarterly earnings data on Monday, May 9th. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Trex had a net margin of 17.90% and a return on equity of 38.31%. The company had revenue of $339.23 million for the quarter, compared to analysts’ expectations of $326.67 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The business’s revenue was up 38.2% on a year-over-year basis. As a group, equities analysts anticipate that Trex will post 2.48 EPS for the current year.

A number of hedge funds have recently made changes to their positions in TREX. Alliancebernstein L.P. boosted its stake in Trex by 16.7% in the third quarter. Alliancebernstein L.P. now owns 7,256,511 shares of the construction company’s stock valued at $739,656,000 after acquiring an additional 1,036,320 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Trex by 0.8% in the first quarter. Clearbridge Investments LLC now owns 4,369,547 shares of the construction company’s stock valued at $285,463,000 after purchasing an additional 34,596 shares during the last quarter. State Street Corp grew its holdings in Trex by 4.3% during the fourth quarter. State Street Corp now owns 3,468,578 shares of the construction company’s stock valued at $468,362,000 after purchasing an additional 142,333 shares during the period. Wasatch Advisors Inc. increased its position in Trex by 7.0% in the first quarter. Wasatch Advisors Inc. now owns 3,385,680 shares of the construction company’s stock worth $221,186,000 after buying an additional 220,344 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of Trex by 0.6% in the third quarter. William Blair Investment Management LLC now owns 3,153,468 shares of the construction company’s stock valued at $321,433,000 after buying an additional 19,332 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Trex Company Profile (Get Rating)

Trex Company, Inc manufactures and distributes decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.

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