Stephens Cuts Trex (NYSE:TREX) Price Target to $65.00

Trex (NYSE:TREX) had its price target trimmed by Stephens from $73.00 to $65.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the construction company’s stock.

TREX has been the subject of several other reports. Benchmark reiterated a “buy” rating and set a $80.00 price objective on shares of Trex in a research report on Monday, March 3rd. JPMorgan Chase & Co. reduced their price target on shares of Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Jefferies Financial Group reduced their price target on shares of Trex from $81.00 to $71.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. UBS Group reduced their price target on shares of Trex from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Friday. Finally, StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Trex has a consensus rating of “Hold” and an average target price of $76.65.

Trex Trading Up 6.9%

Shares of Trex stock opened at $61.75 on Monday. The company has a 50 day moving average of $57.02 and a 200-day moving average of $65.78. Trex has a 1-year low of $49.01 and a 1-year high of $92.02. The company has a market cap of $6.62 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX) last issued its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $339.99 million for the quarter, compared to analyst estimates of $329.11 million. During the same quarter last year, the business posted $0.82 earnings per share. The company’s quarterly revenue was down 9.0% on a year-over-year basis. Research analysts forecast that Trex will post 2.04 earnings per share for the current year.

Insider Buying and Selling

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of Trex stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $61.17, for a total value of $144,728.22. Following the sale, the senior vice president now owns 24,569 shares of the company’s stock, valued at approximately $1,502,885.73. The trade was a 8.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Melkeya Mcduffie sold 1,420 shares of Trex stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the sale, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. This represents a 45.44% decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.

Institutional Trading of Trex

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC raised its position in shares of Trex by 8.8% in the third quarter. Barclays PLC now owns 149,623 shares of the construction company’s stock valued at $9,961,000 after purchasing an additional 12,085 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Trex in the third quarter valued at approximately $30,000. GAMMA Investing LLC raised its position in shares of Trex by 274.9% in the fourth quarter. GAMMA Investing LLC now owns 701 shares of the construction company’s stock valued at $48,000 after purchasing an additional 514 shares during the period. Eagle Bay Advisors LLC bought a new stake in shares of Trex in the fourth quarter valued at approximately $41,000. Finally, Claro Advisors LLC bought a new stake in shares of Trex in the fourth quarter valued at approximately $220,000. Institutional investors own 95.96% of the company’s stock.

Trex Company Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, 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.