Trex (NYSE:TREX) Price Target Raised to $51.00

Trex (NYSE:TREX) had its price objective lifted by DA Davidson from $50.00 to $51.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. DA Davidson’s price target would indicate a potential upside of 34.09% from the company’s current price.

TREX has been the topic of several other reports. Wall Street Zen raised Trex from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Stifel Nicolaus set a $37.50 target price on shares of Trex and gave the stock a “hold” rating in a report on Monday, February 23rd. Citigroup raised their price objective on shares of Trex from $39.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. The Goldman Sachs Group set a $54.00 price target on Trex and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Finally, Wolfe Research raised Trex from a “peer perform” rating to an “outperform” rating and set a $47.00 price target for the company in a report on Wednesday, January 7th. Ten research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $47.78.

Trex Trading Up 2.1%

Shares of NYSE:TREX traded up $0.78 during midday trading on Wednesday, hitting $38.04. The stock had a trading volume of 1,009,594 shares, compared to its average volume of 2,085,217. The stock has a 50 day moving average price of $41.15 and a two-hundred day moving average price of $44.01. Trex has a 1 year low of $29.77 and a 1 year high of $68.78. The company has a market capitalization of $4.02 billion, a PE ratio of 21.44, a P/E/G ratio of 8.58 and a beta of 1.58.

Trex (NYSE:TREX) last issued its quarterly earnings results on Tuesday, February 24th. The construction company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. Trex had a net margin of 16.22% and a return on equity of 20.29%. The business had revenue of $161.13 million during the quarter, compared to the consensus estimate of $144.39 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, equities analysts expect that Trex will post 2.04 EPS for the current year.

Institutional Investors Weigh In On Trex

A number of institutional investors have recently added to or reduced their stakes in TREX. WCM Investment Management LLC raised its stake in Trex by 734.5% during the 3rd quarter. WCM Investment Management LLC now owns 39,566 shares of the construction company’s stock worth $2,033,000 after buying an additional 34,825 shares during the period. Lisanti Capital Growth LLC purchased a new stake in shares of Trex during the third quarter valued at approximately $3,614,000. Thrivent Financial for Lutherans increased its stake in shares of Trex by 7.9% in the third quarter. Thrivent Financial for Lutherans now owns 906,892 shares of the construction company’s stock worth $46,859,000 after buying an additional 66,721 shares during the period. Advantage Alpha Capital Partners LP boosted its position in Trex by 169.2% during the 2nd quarter. Advantage Alpha Capital Partners LP now owns 75,013 shares of the construction company’s stock valued at $4,079,000 after buying an additional 47,143 shares during the period. Finally, Empower Advisory Group LLC raised its stake in shares of Trex by 9.7% during the second quarter. Empower Advisory Group LLC now owns 131,659 shares of the construction company’s stock valued at $7,160,000 after acquiring an additional 11,633 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

About Trex

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.