Trex (NYSE:TREX) PT Lowered to $100.00 at Truist Financial

Trex (NYSE:TREX) had its target price reduced by research analysts at Truist Financial from $120.00 to $100.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Truist Financial’s price target suggests a potential upside of 65.26% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Benchmark restated a “buy” rating and set a $105.00 price objective on shares of Trex in a research report on Tuesday, May 14th. Barclays reduced their price objective on Trex from $94.00 to $81.00 and set an “underweight” rating for the company in a research report on Friday, July 12th. Citigroup reduced their price objective on Trex from $94.00 to $80.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Loop Capital lowered Trex from a “buy” rating to a “hold” rating and reduced their price target for the stock from $95.00 to $75.00 in a research report on Wednesday. Finally, Robert W. Baird reduced their price target on Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $87.73.

Trex Trading Down 21.0 %

TREX stock traded down $16.05 during midday trading on Wednesday, hitting $60.51. 928,954 shares of the company’s stock were exchanged, compared to its average volume of 863,463. Trex has a 12-month low of $53.59 and a 12-month high of $101.91. The firm has a 50 day moving average price of $79.82 and a 200-day moving average price of $87.17. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 1.85 and a beta of 1.50.

Trex (NYSE:TREX) last issued its earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The company had revenue of $376.47 million during the quarter, compared to analyst estimates of $387.87 million. Trex had a return on equity of 35.33% and a net margin of 20.60%. The business’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. On average, sell-side analysts forecast that Trex will post 2.26 EPS for the current fiscal year.

Insider Transactions at Trex

In other news, SVP Jacob T. Rudolph sold 16,440 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the sale, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at $2,340,311.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vident Advisory LLC purchased a new position in shares of Trex during the first quarter valued at $4,013,000. Comerica Bank grew its holdings in shares of Trex by 3.8% during the first quarter. Comerica Bank now owns 217,435 shares of the construction company’s stock valued at $21,689,000 after buying an additional 8,036 shares in the last quarter. Broad Bay Capital Management LP grew its holdings in shares of Trex by 3.8% during the fourth quarter. Broad Bay Capital Management LP now owns 415,000 shares of the construction company’s stock valued at $34,358,000 after buying an additional 15,000 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Trex by 4.8% during the fourth quarter. Fisher Asset Management LLC now owns 98,720 shares of the construction company’s stock valued at $8,173,000 after buying an additional 4,534 shares in the last quarter. Finally, WCM Investment Management LLC grew its holdings in shares of Trex by 9.4% during the fourth quarter. WCM Investment Management LLC now owns 251,159 shares of the construction company’s stock valued at $21,027,000 after buying an additional 21,486 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

About Trex

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.