Trex (NYSE:TREX) Price Target Cut to $71.00 by Analysts at Jefferies Financial Group

Trex (NYSE:TREX - Get Free Report) had its price objective reduced by stock analysts at Jefferies Financial Group from $81.00 to $71.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "hold" rating on the construction company's stock. Jefferies Financial Group's target price points to a potential upside of 15.06% from the stock's current price.

Several other research analysts also recently weighed in on the company. Barclays dropped their target price on Trex from $68.00 to $67.00 and set an "underweight" rating on the stock in a research note on Tuesday, October 29th. DA Davidson restated a "neutral" rating and set a $74.00 price target on shares of Trex in a research note on Tuesday. BMO Capital Markets increased their price objective on shares of Trex from $67.00 to $72.00 and gave the company a "market perform" rating in a research report on Tuesday, October 29th. UBS Group lowered their target price on shares of Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a research note on Tuesday. Finally, Citigroup cut their price target on shares of Trex from $84.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Trex currently has a consensus rating of "Hold" and a consensus price target of $78.38.

Trex Price Performance

Shares of TREX stock traded up $1.38 during mid-day trading on Tuesday, hitting $61.71. 1,719,540 shares of the stock traded hands, compared to its average volume of 1,357,345. Trex has a 52-week low of $58.68 and a 52-week high of $100.77. The stock has a market cap of $6.61 billion, a P/E ratio of 28.18, a P/E/G ratio of 2.51 and a beta of 1.51. The stock's fifty day moving average is $69.13 and its two-hundred day moving average is $68.64.

Trex (NYSE:TREX - Get Free Report) last posted its earnings results on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.05. The company had revenue of $167.63 million during the quarter, compared to analysts' expectations of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. As a group, equities analysts forecast that Trex will post 2.04 EPS for the current fiscal year.

Insider Activity at Trex

In related news, Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the completion of the transaction, the director now owns 1,705 shares of the company's stock, valued at approximately $105,505.40. This represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is owned by company insiders.

Institutional Trading of Trex

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Xponance Inc. grew its stake in Trex by 0.7% in the 4th quarter. Xponance Inc. now owns 21,605 shares of the construction company's stock valued at $1,491,000 after acquiring an additional 143 shares during the period. Principal Securities Inc. grew its position in shares of Trex by 5.0% in the fourth quarter. Principal Securities Inc. now owns 3,082 shares of the construction company's stock valued at $213,000 after purchasing an additional 147 shares during the period. Pacer Advisors Inc. increased its stake in shares of Trex by 0.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company's stock worth $1,102,000 after purchasing an additional 148 shares in the last quarter. Harrington Investments INC raised its position in shares of Trex by 1.8% during the 4th quarter. Harrington Investments INC now owns 9,106 shares of the construction company's stock worth $629,000 after purchasing an additional 159 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in Trex by 9.1% in the 4th quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock valued at $140,000 after buying an additional 170 shares in the last quarter. 95.96% of the stock is currently 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.