Trex (NYSE:TREX) Price Target Lowered to $105.00 at Robert W. Baird

Trex (NYSE:TREX) had its price target lowered by analysts at Robert W. Baird from $110.00 to $105.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Robert W. Baird’s price objective points to a potential upside of 12.41% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Stifel Nicolaus increased their target price on Trex from $90.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. DA Davidson boosted their price target on Trex from $80.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Benchmark increased their price objective on Trex from $85.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, March 1st. The Goldman Sachs Group boosted their target price on Trex from $89.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, Barclays lifted their price target on shares of Trex from $86.00 to $93.00 and gave the company an “underweight” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $89.41.

Trex Price Performance

Shares of NYSE TREX opened at $93.41 on Friday. The stock has a market capitalization of $10.15 billion, a P/E ratio of 49.42, a PEG ratio of 2.06 and a beta of 1.60. Trex has a one year low of $51.03 and a one year high of $101.91. The firm’s 50 day simple moving average is $93.81 and its two-hundred day simple moving average is $82.69.

Trex (NYSE:TREX) last released its earnings results on Monday, February 26th. The construction company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $195.75 million for the quarter, compared to analyst estimates of $193.40 million. Trex had a net margin of 18.76% and a return on equity of 31.26%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 EPS. As a group, equities analysts expect that Trex will post 2.22 earnings per share for the current fiscal year.

Institutional Trading of Trex

A number of hedge funds have recently bought and sold shares of TREX. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Trex by 15.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,494 shares of the construction company’s stock valued at $1,448,000 after buying an additional 3,149 shares during the period. Strs Ohio grew its holdings in Trex by 31.4% during the third quarter. Strs Ohio now owns 59,116 shares of the construction company’s stock valued at $3,643,000 after purchasing an additional 14,116 shares during the period. Advisor Partners II LLC bought a new position in shares of Trex in the third quarter worth about $255,000. Park Avenue Securities LLC bought a new position in shares of Trex in the third quarter worth approximately $623,000. Finally, Inspire Investing LLC boosted its stake in shares of Trex by 4.2% in the third quarter. Inspire Investing LLC now owns 4,960 shares of the construction company’s stock worth $306,000 after acquiring an additional 201 shares during the period. 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.