Trex (NYSE:TREX) Given Neutral Rating at DA Davidson

DA Davidson reissued their neutral rating on shares of Trex (NYSE:TREX) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $74.00 price objective on the construction company’s stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group reduced their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday. 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 report on Tuesday. Barclays decreased their price target on Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. 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 report on Tuesday, October 29th. Finally, StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Trex has an average rating of “Hold” and an average target price of $78.38.

Trex Stock Up 1.1 %

TREX opened at $62.33 on Tuesday. Trex has a 52 week low of $58.68 and a 52 week high of $101.91. The business has a 50 day moving average price of $69.54 and a two-hundred day moving average price of $68.74. The company has a market cap of $6.68 billion, a PE ratio of 28.46, a P/E/G ratio of 2.51 and a beta of 1.51.

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

Institutional Trading of Trex

Institutional investors and hedge funds have recently modified their holdings of the business. L & S Advisors Inc acquired a new position in shares of Trex during the 3rd quarter worth approximately $1,000,000. Algert Global LLC increased its position in Trex by 81.3% during the third quarter. Algert Global LLC now owns 86,300 shares of the construction company’s stock worth $5,746,000 after buying an additional 38,700 shares in the last quarter. Curi RMB Capital LLC increased its position in Trex by 27.2% during the third quarter. Curi RMB Capital LLC now owns 68,149 shares of the construction company’s stock worth $4,537,000 after buying an additional 14,558 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Trex by 237.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 53,084 shares of the construction company’s stock worth $3,534,000 after acquiring an additional 37,362 shares during the last quarter. Finally, Entropy Technologies LP lifted its position in shares of Trex by 287.1% in the third quarter. Entropy Technologies LP now owns 16,811 shares of the construction company’s stock valued at $1,119,000 after acquiring an additional 12,468 shares in the last quarter. Hedge funds and other 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.