Barclays Cuts Trex (NYSE:TREX) Price Target to $35.00

Trex (NYSE:TREX) had its target price cut by Barclays from $54.00 to $35.00 in a report published on Thursday morning,Benzinga reports. They currently have an underweight rating on the construction company’s stock.

A number of other equities research analysts have also recently issued reports on TREX. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Trex in a report on Wednesday, October 8th. UBS Group reduced their price target on Trex from $74.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday. JPMorgan Chase & Co. lowered their price target on Trex from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Robert W. Baird upgraded Trex from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $65.00 to $75.00 in a research note on Thursday, July 10th. Finally, DA Davidson set a $45.00 target price on Trex and gave the stock a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $53.89.

Trex Trading Up 3.2%

NYSE TREX opened at $32.93 on Thursday. Trex has a 12 month low of $31.21 and a 12 month high of $80.74. The stock has a 50 day moving average of $52.35 and a 200-day moving average of $57.20. The company has a market cap of $3.53 billion, a PE ratio of 19.03, a PEG ratio of 2.02 and a beta of 1.49.

Trex (NYSE:TREX) last posted its quarterly earnings results on Tuesday, November 4th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.06). The firm had revenue of $285.35 million for the quarter, compared to the consensus estimate of $301.74 million. Trex had a return on equity of 21.27% and a net margin of 16.53%.The business’s revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. Trex has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, sell-side analysts predict that Trex will post 2.04 EPS for the current fiscal year.

Institutional Trading of Trex

Hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in Trex by 132.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,297,863 shares of the construction company’s stock valued at $424,007,000 after purchasing an additional 4,163,014 shares during the period. Madison Asset Management LLC acquired a new stake in shares of Trex during the first quarter worth $109,852,000. Norges Bank acquired a new stake in shares of Trex during the second quarter worth $54,795,000. Impax Asset Management Group plc boosted its position in shares of Trex by 93.0% in the third quarter. Impax Asset Management Group plc now owns 1,934,581 shares of the construction company’s stock valued at $99,354,000 after acquiring an additional 932,247 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Trex by 66.1% in the first quarter. American Century Companies Inc. now owns 1,972,125 shares of the construction company’s stock valued at $114,580,000 after acquiring an additional 784,820 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

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.