Trex (NYSE:TREX) Price Target Raised to $74.00

Trex (NYSE:TREX) had its target price boosted by DA Davidson from $70.00 to $74.00 in a report published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the construction company’s stock. DA Davidson also issued estimates for Trex’s Q4 2024 earnings at $0.04 EPS and FY2025 earnings at $2.21 EPS.

A number of other brokerages also recently issued reports on TREX. Bank of America dropped their price objective on Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Barclays dropped their price objective on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday. Stifel Nicolaus dropped their price objective on Trex from $110.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. BMO Capital Markets boosted their price objective on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, UBS Group dropped their price objective on Trex from $104.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Trex has an average rating of “Hold” and an average price target of $79.94.

Trex Trading Down 0.1 %

NYSE TREX opened at $70.77 on Tuesday. The business’s 50-day moving average price is $65.59 and its two-hundred day moving average price is $75.51. Trex has a 12 month low of $58.68 and a 12 month high of $101.91. The firm has a market capitalization of $7.58 billion, a PE ratio of 32.32, a price-to-earnings-growth ratio of 3.21 and a beta of 1.50.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. During the same quarter in the previous year, the company posted $0.57 EPS. The business’s revenue was down 23.1% on a year-over-year basis. As a group, analysts forecast that Trex will post 2.05 earnings per share for the current fiscal year.

Institutional Trading of Trex

Institutional investors and hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. purchased a new stake in shares of Trex in the second quarter worth approximately $31,000. Fidelis Capital Partners LLC purchased a new stake in shares of Trex in the first quarter worth approximately $59,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trex in the second quarter worth approximately $44,000. Quarry LP raised its stake in shares of Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company’s stock worth $45,000 after purchasing an additional 513 shares during the last quarter. Finally, Mather Group LLC. raised its stake in shares of Trex by 142.3% in the second quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after purchasing an additional 370 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Company Profile

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.