Trex (NYSE:TREX) Price Target Lowered to $81.00 at Barclays

Trex (NYSE:TREX) had its price objective trimmed by Barclays from $94.00 to $81.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an underweight rating on the construction company’s stock.

TREX has been the subject of several other reports. The Goldman Sachs Group dropped their target price on Trex from $114.00 to $93.00 and set a buy rating for the company in a report on Wednesday, July 10th. DA Davidson dropped their price objective on Trex from $89.00 to $80.00 and set a neutral rating for the company in a report on Wednesday, July 3rd. Citigroup dropped their price objective on Trex from $94.00 to $80.00 and set a neutral rating for the company in a report on Thursday, July 11th. Benchmark reiterated a buy rating and issued a $105.00 price objective on shares of Trex in a report on Tuesday, May 14th. Finally, Robert W. Baird decreased their target price on Trex from $110.00 to $105.00 and set a neutral rating for the company in a research report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Trex has a consensus rating of Hold and an average price target of $88.76.

Trex Stock Down 0.3 %

Shares of NYSE TREX opened at $81.32 on Friday. The firm has a market capitalization of $8.84 billion, a P/E ratio of 34.90, a P/E/G ratio of 1.79 and a beta of 1.50. The stock’s 50-day simple moving average is $82.40 and its two-hundred day simple moving average is $87.13. Trex has a twelve month low of $53.59 and a twelve month high of $101.91.

Trex (NYSE:TREX) last posted its quarterly earnings data on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.10. The firm had revenue of $373.64 million during the quarter, compared to analysts’ expectations of $367.31 million. Trex had a return on equity of 35.33% and a net margin of 20.60%. The company’s revenue for the quarter was up 56.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 EPS. As a group, research analysts anticipate that Trex will post 2.26 EPS for the current fiscal year.

Insider Transactions at Trex

In related news, SVP Jacob T. Rudolph sold 16,440 shares of Trex stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total transaction of $1,494,396.00. Following the transaction, the senior vice president now directly owns 25,746 shares in the company, valued at $2,340,311.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Trex

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Trex by 0.6% during the first quarter. Vanguard Group Inc. now owns 10,314,078 shares of the construction company’s stock worth $1,028,829,000 after acquiring an additional 65,428 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in Trex by 19.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,102,402 shares of the construction company’s stock worth $339,638,000 after buying an additional 660,536 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in shares of Trex by 1.4% during the first quarter. Conestoga Capital Advisors LLC now owns 1,913,263 shares of the construction company’s stock worth $190,848,000 after purchasing an additional 27,135 shares in the last quarter. TD Asset Management Inc increased its position in shares of Trex by 516.8% during the fourth quarter. TD Asset Management Inc now owns 1,600,980 shares of the construction company’s stock worth $132,545,000 after purchasing an additional 1,341,419 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Trex in the 4th quarter valued at $113,613,000. 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.