Citigroup Has Lowered Expectations for Trex (NYSE:TREX) Stock Price

by · The Markets Daily

Trex (NYSE:TREX – Get Free Report) had its price target lowered by investment analysts at Citigroup from $84.00 to $78.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. Citigroup’s price target indicates a potential upside of 10.51% from the stock’s current price.

TREX has been the subject of a number of other reports. Jefferies Financial Group reduced their price target on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. DA Davidson boosted their target price on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. BMO Capital Markets raised their price target on Trex from $67.00 to $72.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. StockNews.com lowered Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Finally, Robert W. Baird raised their target price on shares of Trex from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $79.81.

Check Out Our Latest Report on Trex

Trex Price Performance

Shares of Trex stock traded up $1.15 during trading hours on Monday, reaching $70.58. The company had a trading volume of 435,266 shares, compared to its average volume of 497,291. Trex has a one year low of $58.68 and a one year high of $101.91. The firm has a market cap of $7.56 billion, a PE ratio of 32.23, a price-to-earnings-growth ratio of 3.50 and a beta of 1.49. The business has a fifty day simple moving average of $72.60 and a 200 day simple moving average of $70.71.

Trex (NYSE:TREX – Get Free Report) last posted its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share 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 business had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. During the same quarter in the previous year, the firm earned $0.57 EPS. The company’s quarterly revenue was down 23.1% compared to the same quarter last year. On average, research analysts forecast that Trex will post 2.05 EPS for the current year.

Institutional Trading of Trex

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Trex during the third quarter valued at approximately $30,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Trex during the second quarter valued at approximately $44,000. Quarry LP grew its stake in 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 period. UMB Bank n.a. raised its holdings in Trex by 150.8% in the third quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after purchasing an additional 392 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Trex by 274.9% during the fourth quarter. GAMMA Investing LLC now owns 701 shares of the construction company’s stock valued at $48,000 after buying an additional 514 shares during the period. Institutional investors own 95.96% of the company’s stock.

Trex Company Profile

(Get Free Report)

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.

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