Trex (NYSE:TREX) PT Raised to $94.00 at Barclays

Trex (NYSE:TREXFree Report) had its price target boosted by Barclays from $93.00 to $94.00 in a research report released on Friday, Benzinga reports. Barclays currently has an underweight rating on the construction company’s stock.

Other research analysts have also recently issued research reports about the company. DA Davidson lifted their target price on Trex from $80.00 to $87.00 and gave the company a neutral rating in a report on Tuesday, February 27th. Benchmark raised their price objective on Trex from $85.00 to $105.00 and gave the company a buy rating in a research note on Friday, March 1st. JPMorgan Chase & Co. increased their price objective on shares of Trex from $79.00 to $93.00 and gave the company a neutral rating in a research note on Friday, March 1st. Truist Financial boosted their price target on Trex from $70.00 to $120.00 and gave the company a buy rating in a report on Tuesday, February 27th. Finally, UBS Group raised their price target on shares of Trex from $84.00 to $100.00 and gave the stock a neutral rating in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Trex presently has a consensus rating of Hold and an average target price of $89.47.

Get Our Latest Stock Analysis on Trex

Trex Trading Up 0.2 %

Shares of TREX stock opened at $87.59 on Friday. The stock has a 50 day simple moving average of $93.49 and a 200-day simple moving average of $83.53. Trex has a 12-month low of $51.03 and a 12-month high of $101.91. The company has a market cap of $9.52 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 1.94 and a beta of 1.60.

Trex (NYSE:TREXGet Free Report) last posted its earnings results on Thursday, May 9th. The construction company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.10. Trex had a net margin of 20.60% and a return on equity of 35.33%. The firm had revenue of $373.64 million during the quarter, compared to the consensus estimate of $367.31 million. During the same period last year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 56.5% on a year-over-year basis. On average, equities analysts forecast that Trex will post 2.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trex

A number of hedge funds have recently modified their holdings of TREX. V Square Quantitative Management LLC acquired a new stake in Trex during the 4th quarter worth about $25,000. Mather Group LLC. acquired a new position in Trex in the 1st quarter worth approximately $26,000. Loomis Sayles & Co. L P purchased a new position in Trex during the 3rd quarter worth approximately $27,000. Contravisory Investment Management Inc. acquired a new stake in Trex during the 4th quarter valued at $28,000. Finally, Headinvest LLC acquired a new stake in shares of Trex in the third quarter worth $29,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

About Trex

(Get Free Report)

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.

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