Citigroup Lowers Trex (NYSE:TREX) Price Target to $78.00

Trex (NYSE:TREX - Free Report) had its target price cut by Citigroup from $84.00 to $78.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the construction company's stock.

Other research analysts have also issued reports about the stock. Robert W. Baird upped their target price on shares of Trex from $70.00 to $78.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. StockNews.com lowered Trex from a "hold" rating to a "sell" rating in a research report on Tuesday, October 29th. Barclays dropped their target price on Trex from $68.00 to $67.00 and set an "underweight" rating for the company in a research report on Tuesday, October 29th. DA Davidson increased their price target on shares of Trex from $70.00 to $74.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Finally, BMO Capital Markets boosted their price objective on shares of Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Trex has an average rating of "Hold" and a consensus price target of $79.81.

Trex Stock Performance

Trex stock traded up $0.89 during midday trading on Monday, reaching $70.32. 654,397 shares of the stock were exchanged, compared to its average volume of 575,932. The company's fifty day moving average is $72.67 and its 200-day moving average is $70.52. Trex has a 52 week low of $58.68 and a 52 week high of $101.91. The firm has a market cap of $7.53 billion, a PE ratio of 32.11, a PEG ratio of 3.50 and a beta of 1.50.

Trex (NYSE:TREX - Get Free Report) last posted its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $233.72 million during the quarter, compared to analysts' expectations of $225.42 million. During the same period in the previous year, the business earned $0.57 earnings per share. The firm's revenue was down 23.1% on a year-over-year basis. On average, sell-side analysts anticipate that Trex will post 2.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trex

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Natixis Advisors LLC raised its holdings in Trex by 9.8% in the 2nd quarter. Natixis Advisors LLC now owns 48,603 shares of the construction company's stock worth $3,602,000 after purchasing an additional 4,344 shares in the last quarter. Arizona State Retirement System lifted its holdings in Trex by 1.9% in the second quarter. Arizona State Retirement System now owns 30,410 shares of the construction company's stock worth $2,254,000 after buying an additional 565 shares during the period. Candriam S.C.A. bought a new stake in Trex during the 2nd quarter valued at approximately $4,355,000. Harrington Investments INC grew its holdings in shares of Trex by 1.4% during the 2nd quarter. Harrington Investments INC now owns 9,807 shares of the construction company's stock worth $727,000 after acquiring an additional 140 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Trex during the 2nd quarter worth approximately $44,000. 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.