DA Davidson Forecasts Strong Price Appreciation for Trex (NYSE:TREX) Stock

Trex (NYSE:TREX) had its price objective upped by analysts at DA Davidson from $50.00 to $51.00 in a research 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 points to a potential upside of 34.09% from the stock’s previous close.

TREX has been the topic of a number of other reports. Benchmark cut Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Loop Capital upgraded Trex from a “hold” rating to a “buy” rating and increased their target price for the company from $45.00 to $53.00 in a report on Wednesday, February 25th. Robert W. Baird set a $48.00 price target on Trex in a research note on Monday, January 12th. Citigroup upped their price target on shares of Trex from $39.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, February 26th. Finally, Jefferies Financial Group upgraded shares of Trex from a “hold” rating to a “buy” rating and boosted their price objective for the company from $39.00 to $42.00 in a research report on Monday, December 15th. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $47.78.

Trex Stock Performance

NYSE:TREX traded up $0.78 during mid-day trading on Wednesday, reaching $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 market capitalization of $4.02 billion, a P/E ratio of 21.44, a P/E/G ratio of 8.58 and a beta of 1.58. The firm has a 50 day moving average price of $41.15 and a two-hundred day moving average price of $44.01. Trex has a one year low of $29.77 and a one year high of $68.78.

Trex (NYSE:TREX) last announced its quarterly earnings data on Tuesday, February 24th. The construction company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The company had revenue of $161.13 million during the quarter, compared to analysts’ expectations of $144.39 million. Trex had a net margin of 16.22% and a return on equity of 20.29%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. Research analysts forecast that Trex will post 2.04 earnings per share for the current year.

Institutional Investors Weigh In On Trex

A number of large investors have recently made changes to their positions in TREX. V Square Quantitative Management LLC acquired a new stake in Trex during the 4th quarter worth about $27,000. Steigerwald Gordon & Koch Inc. acquired a new position in Trex in the third quarter valued at approximately $31,000. Clearstead Trust LLC acquired a new stake in shares of Trex during the 4th quarter worth approximately $33,000. Eurizon Capital SGR S.p.A. purchased a new stake in Trex during the fourth quarter worth $47,000. Finally, Empowered Funds LLC acquired a new stake in Trex during the fourth quarter valued at $50,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Company Profile

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.