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

Trex (NYSE:TREX) had its price objective lowered by stock analysts at Barclays from $67.00 to $54.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the construction company’s stock. Barclays‘s price objective suggests a potential upside of 4.65% from the company’s previous close.

TREX has been the topic of several other research reports. StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Truist Financial dropped their price target on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. DA Davidson restated a “neutral” rating and issued a $74.00 target price on shares of Trex in a report on Tuesday, February 25th. Citigroup lowered their price target on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, Jefferies Financial Group cut their price objective on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $78.24.

Trex Stock Down 2.8 %

Trex stock traded down $1.48 during trading hours on Tuesday, hitting $51.60. The stock had a trading volume of 814,440 shares, compared to its average volume of 1,265,052. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 23.49, a P/E/G ratio of 2.51 and a beta of 1.62. The business’s 50 day simple moving average is $62.55 and its 200-day simple moving average is $67.53. Trex has a one year low of $50.35 and a one year high of $97.69.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $167.63 million during the quarter, compared to analyst estimates of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. Research analysts anticipate that Trex will post 2.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Melkeya Mcduffie sold 1,420 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the transaction, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. The trade was a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Trex

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in Trex during the 3rd quarter valued at $30,000. Mather Group LLC. lifted its holdings in Trex by 73.5% in the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after buying an additional 191 shares during the period. Avior Wealth Management LLC increased its stake in shares of Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after buying an additional 473 shares during the period. Huntington National Bank raised its holdings in shares of Trex by 227.2% during the fourth quarter. Huntington National Bank now owns 566 shares of the construction company’s stock valued at $39,000 after acquiring an additional 393 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new stake in Trex in the fourth quarter worth $41,000. Institutional investors own 95.96% of the company’s stock.

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.