Trex (TREX) PT Lowered to $89.00

Trex (NYSE:TREX) had its price target decreased by Stifel Nicolaus from $100.00 to $89.00 in a research note issued on Friday, MarketBeat.com reports. The brokerage presently has a “hold” rating on the construction company’s stock. Stifel Nicolaus’ price target would suggest a potential downside of 18.46% from the stock’s current price.

A number of other research firms have also weighed in on TREX. FBR & Co raised their target price on Trex from $80.00 to $96.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Zacks Investment Research downgraded Trex from a “buy” rating to a “hold” rating in a research report on Saturday, November 11th. B. Riley reaffirmed a “hold” rating and set a $96.00 price target on shares of Trex in a research report on Wednesday, November 8th. BidaskClub downgraded Trex from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 22nd. Finally, Sidoti downgraded Trex from a “buy” rating to a “neutral” rating and set a $89.00 price target for the company. in a research report on Monday, October 2nd. Eight equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $90.00.

Shares of Trex (NYSE:TREX) opened at $109.15 on Friday. Trex has a 52-week low of $61.57 and a 52-week high of $118.65. The company has a market capitalization of $3,307.65, a PE ratio of 37.10 and a beta of 2.43.

Trex (NYSE:TREX) last announced its earnings results on Monday, October 30th. The construction company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. The company had revenue of $140.19 million for the quarter, compared to analyst estimates of $125.30 million. Trex had a return on equity of 51.30% and a net margin of 16.61%. The firm’s revenue for the quarter was up 32.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 EPS. equities analysts forecast that Trex will post 3.11 earnings per share for the current year.

In other news, Director Frank H. Merlotti, Jr. sold 2,158 shares of Trex stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $105.51, for a total value of $227,690.58. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Jay T. Scripter sold 1,116 shares of Trex stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $108.59, for a total value of $121,186.44. Following the completion of the transaction, the vice president now owns 14,212 shares in the company, valued at approximately $1,543,281.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,014 shares of company stock valued at $764,529. Corporate insiders own 0.95% of the company’s stock.

Several hedge funds have recently bought and sold shares of the business. California Public Employees Retirement System lifted its position in Trex by 4.1% in the 3rd quarter. California Public Employees Retirement System now owns 125,798 shares of the construction company’s stock valued at $11,331,000 after acquiring an additional 4,998 shares in the last quarter. Bamco Inc. NY lifted its holdings in shares of Trex by 4.4% during the 3rd quarter. Bamco Inc. NY now owns 1,185,205 shares of the construction company’s stock valued at $106,751,000 after buying an additional 49,870 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Trex by 27.7% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,546 shares of the construction company’s stock worth $228,000 after purchasing an additional 553 shares in the last quarter. U S Global Investors Inc. purchased a new stake in shares of Trex in the 3rd quarter worth $1,441,000. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Trex by 9.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,418 shares of the construction company’s stock worth $668,000 after purchasing an additional 620 shares in the last quarter. Hedge funds and other institutional investors own 89.09% of the company’s stock.

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Trex Company Profile

Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.

Analyst Recommendations for Trex (NYSE:TREX)

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