Jefferies Financial Group Lowers Trex (NYSE:TREX) Price Target to $71.00

Trex (NYSE:TREX) had its target price trimmed by Jefferies Financial Group from $81.00 to $71.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the construction company’s stock.

TREX has been the subject of several other research reports. Truist Financial reduced their target price on shares of Trex from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday. Robert W. Baird increased their price objective on shares of Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Barclays lowered their target price on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Bank of America reduced their price target on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Citigroup decreased their price target on Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $78.38.

Trex Price Performance

TREX opened at $62.33 on Tuesday. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 2.51 and a beta of 1.51. The business’s 50-day moving average price is $69.54 and its two-hundred day moving average price is $68.74. Trex has a 1 year low of $58.68 and a 1 year high of $101.91.

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

Hedge Funds Weigh In On Trex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TREX. Blue Trust Inc. raised its position in shares of Trex by 134.6% in the third quarter. Blue Trust Inc. now owns 1,769 shares of the construction company’s stock valued at $118,000 after purchasing an additional 1,015 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Trex by 7,363.6% during the 3rd quarter. International Assets Investment Management LLC now owns 2,463 shares of the construction company’s stock worth $164,000 after buying an additional 2,430 shares during the period. Ballentine Partners LLC grew its stake in Trex by 15.5% in the 3rd quarter. Ballentine Partners LLC now owns 3,139 shares of the construction company’s stock valued at $209,000 after buying an additional 422 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Trex by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 12,636 shares of the construction company’s stock valued at $841,000 after acquiring an additional 855 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its position in Trex by 69.4% during the third quarter. J.W. Cole Advisors Inc. now owns 5,274 shares of the construction company’s stock worth $351,000 after acquiring an additional 2,161 shares during the last quarter. 95.96% of the stock is owned by 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.