Bank of America Cuts Trex (NYSE:TREX) Price Target to $42.00

Trex (NYSE:TREX) had its price objective lowered by Bank of America from $43.00 to $42.00 in a report released on Monday,Benzinga reports. The firm currently has an underperform rating on the construction company’s stock.

Other analysts also recently issued reports about the company. Wall Street Zen downgraded Trex from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Stifel Nicolaus set a $37.50 price target on Trex and gave the stock a “hold” rating in a report on Monday, February 23rd. Citigroup increased their price target on Trex from $39.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Benchmark downgraded Trex from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. Finally, Wolfe Research upgraded Trex from a “peer perform” rating to an “outperform” rating and set a $47.00 price target for the company in a report on Wednesday, January 7th. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $47.88.

Trex Trading Down 0.7%

Shares of Trex stock opened at $41.89 on Monday. The business has a 50-day moving average price of $39.15 and a two-hundred day moving average price of $39.91. Trex has a 1-year low of $29.77 and a 1-year high of $68.78. The company has a market cap of $4.35 billion, a P/E ratio of 23.67, a PEG ratio of 9.66 and a beta of 1.61.

Trex (NYSE:TREX) last issued its quarterly earnings results on Tuesday, February 24th. The construction company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. Trex had a return on equity of 20.29% and a net margin of 16.22%.The firm had revenue of $161.13 million during the quarter, compared to the consensus estimate of $144.39 million. During the same period last year, the business posted $0.09 EPS. The business’s revenue was down 3.9% compared to the same quarter last year. Equities research analysts forecast that Trex will post 1.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Trex

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wesbanco Bank Inc. bought a new position in shares of Trex during the 1st quarter worth about $932,000. Grey Ledge Advisors LLC bought a new position in shares of Trex during the 1st quarter worth about $252,000. SG Americas Securities LLC boosted its position in shares of Trex by 17.5% during the 1st quarter. SG Americas Securities LLC now owns 121,784 shares of the construction company’s stock worth $4,435,000 after purchasing an additional 18,181 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Trex by 97.6% during the 4th quarter. Hsbc Holdings PLC now owns 68,812 shares of the construction company’s stock worth $2,428,000 after purchasing an additional 33,991 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Trex by 155.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,260 shares of the construction company’s stock worth $220,000 after purchasing an additional 3,810 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

About Trex

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.