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

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

A number of other equities research analysts have also recently weighed in on the company. Stephens cut Trex from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $115.00 to $72.00 in a report on Wednesday, August 7th. Loop Capital cut Trex from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $95.00 to $75.00 in a report on Wednesday, August 7th. Bank of America cut their target price on Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. The Goldman Sachs Group decreased their price objective on Trex from $114.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Finally, StockNews.com upgraded Trex from a “sell” rating to a “hold” rating in a report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Trex presently has a consensus rating of “Hold” and a consensus price target of $79.94.

Trex Price Performance

NYSE:TREX opened at $70.77 on Tuesday. Trex has a 12-month low of $58.68 and a 12-month 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 business has a 50 day simple moving average of $65.59 and a 200 day simple moving average of $75.51.

Trex (NYSE:TREX) last posted 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 return on equity of 28.89% and a net margin of 20.23%. The company had revenue of $233.72 million for the quarter, compared to the consensus estimate of $225.42 million. During the same quarter in the previous year, the business earned $0.57 EPS. The company’s quarterly revenue was down 23.1% compared to the same quarter last year. Research analysts anticipate that Trex will post 2.05 EPS for the current fiscal year.

Institutional Trading of Trex

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake 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 during the period. Conestoga Capital Advisors LLC raised its position in Trex by 3.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company’s stock worth $146,288,000 after buying an additional 60,405 shares during the last quarter. American Century Companies Inc. raised its position in Trex by 7.1% during the 2nd quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company’s stock worth $136,631,000 after buying an additional 122,658 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Trex by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company’s stock valued at $90,752,000 after purchasing an additional 92,563 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in Trex by 0.6% in the 2nd quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company’s stock valued at $84,803,000 after acquiring an additional 6,901 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.