Trex (NYSE:TREX) Given New $105.00 Price Target at Robert W. Baird

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

A number of other analysts have also recently weighed in on the company. DA Davidson upped their price target on Trex from $80.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. UBS Group increased their target price 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. The Goldman Sachs Group boosted their price target on shares of Trex from $89.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Benchmark raised their price objective on shares of Trex from $85.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Stifel Nicolaus boosted their target price on Trex from $90.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Trex currently has a consensus rating of “Hold” and a consensus target price of $89.41.

Trex Stock Performance

Shares of TREX stock opened at $93.41 on Friday. The firm has a fifty day moving average of $93.81 and a 200-day moving average of $82.69. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of 49.42, a P/E/G ratio of 2.06 and a beta of 1.60. Trex has a 52-week low of $51.03 and a 52-week high of $101.91.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, February 26th. The construction company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. Trex had a net margin of 18.76% and a return on equity of 31.26%. The firm had revenue of $195.75 million during the quarter, compared to analyst estimates of $193.40 million. During the same quarter in the prior year, the business posted $0.23 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts predict that Trex will post 2.22 earnings per share for the current year.

Institutional Investors Weigh In On Trex

A number of institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in Trex during the fourth quarter worth about $25,000. Mather Group LLC. bought a new position in Trex during the 1st quarter worth approximately $26,000. Loomis Sayles & Co. L P acquired a new position in Trex during the third quarter valued at approximately $27,000. Contravisory Investment Management Inc. bought a new stake in Trex in the fourth quarter valued at approximately $28,000. Finally, Headinvest LLC acquired a new stake in Trex in the third quarter worth $29,000. 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.