JPMorgan Chase & Co. Lowers Trex (NYSE:TREX) Price Target to $69.00

Trex (NYSE:TREX) had its target price decreased by JPMorgan Chase & Co. from $95.00 to $69.00 in a report issued on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the construction company’s stock.

Several other research firms have also recently commented on TREX. Loop Capital cut Trex from a buy rating to a hold rating and lowered their target price for the company from $95.00 to $75.00 in a research note on Wednesday, August 7th. Benchmark decreased their price objective on Trex from $105.00 to $80.00 and set a buy rating for the company in a research note on Thursday, August 8th. Stifel Nicolaus decreased their price objective on Trex from $110.00 to $85.00 and set a buy rating for the company in a research note on Wednesday, August 7th. B. Riley decreased their price objective on Trex from $107.00 to $97.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Finally, Bank of America decreased their price objective on Trex from $97.00 to $85.00 and set a buy rating for the company in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $80.88.

Trex Price Performance

TREX stock opened at $63.76 on Monday. The business has a fifty day moving average price of $76.91 and a 200 day moving average price of $86.25. Trex has a fifty-two week low of $53.59 and a fifty-two week high of $101.91. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 2.02 and a beta of 1.50.

Trex (NYSE:TREX) last released its earnings results on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $376.47 million during the quarter, compared to analysts’ expectations of $387.87 million. Trex had a return on equity of 33.53% and a net margin of 21.07%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.71 EPS. On average, equities analysts expect that Trex will post 2.07 earnings per share for the current fiscal year.

Institutional Trading of Trex

A number of institutional investors have recently modified their holdings of TREX. International Assets Investment Management LLC lifted its holdings in shares of Trex by 3,743.6% in the fourth quarter. International Assets Investment Management LLC now owns 5,381 shares of the construction company’s stock valued at $445,000 after purchasing an additional 5,241 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Trex by 9.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 14,443 shares of the construction company’s stock valued at $1,196,000 after purchasing an additional 1,200 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Trex in the fourth quarter valued at about $2,525,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Trex by 7.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,331 shares of the construction company’s stock worth $2,097,000 after acquiring an additional 1,837 shares in the last quarter. Finally, Martin Capital Advisors LLP raised its holdings in Trex by 0.7% during the fourth quarter. Martin Capital Advisors LLP now owns 25,723 shares of the construction company’s stock worth $2,130,000 after acquiring an additional 168 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

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.