BMO Capital Markets Issues Positive Forecast for Trex (NYSE:TREX) Stock Price

Trex (NYSE:TREX) had its target price hoisted by BMO Capital Markets from $67.00 to $72.00 in a report issued on Tuesday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the construction company’s stock.

Other equities analysts have also recently issued research reports about the company. Citigroup dropped their price target on Trex from $94.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. UBS Group reduced their target price on Trex from $104.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Robert W. Baird increased their price objective on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday. StockNews.com upgraded Trex from a “sell” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Jefferies Financial Group lowered their price objective on Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $79.94.

Trex Stock Down 0.1 %

TREX opened at $70.77 on Tuesday. Trex has a 52-week low of $58.68 and a 52-week high of $101.91. The firm has a market capitalization of $7.58 billion, a P/E ratio of 32.32, a P/E/G ratio of 3.22 and a beta of 1.49. The firm’s 50 day moving average is $65.59 and its 200-day moving average is $75.51.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The firm’s revenue was down 23.1% on a year-over-year basis. Equities analysts expect 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 business. Vanguard Group Inc. grew its position in shares of Trex by 0.6% in the first quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock valued at $1,028,829,000 after purchasing an additional 65,428 shares in the last quarter. Conestoga Capital Advisors LLC lifted its stake in Trex by 3.2% during the second quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock worth $146,288,000 after purchasing an additional 60,405 shares during the last quarter. American Century Companies Inc. lifted its stake in Trex by 7.1% during the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock worth $136,631,000 after purchasing an additional 122,658 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Trex by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company’s stock worth $90,752,000 after purchasing an additional 92,563 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in Trex by 0.6% during the second quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company’s stock worth $84,803,000 after purchasing an additional 6,901 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other 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.