Trex (NYSE:TREX) Given New $74.00 Price Target at DA Davidson

Trex (NYSE:TREX - Free Report) had its price target raised by DA Davidson from $70.00 to $74.00 in a report released on Tuesday, Benzinga reports. DA Davidson currently has a neutral rating on the construction company's stock.

TREX has been the subject of several other reports. Citigroup decreased their price target on shares of Trex from $94.00 to $80.00 and set a "neutral" rating for the company in a report on Thursday, July 11th. The Goldman Sachs Group decreased their price target on shares of Trex from $114.00 to $93.00 and set a "buy" rating for the company in a report on Wednesday, July 10th. Benchmark decreased their price target on shares of Trex from $105.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their price objective on shares of Trex from $95.00 to $69.00 and set a "neutral" rating on the stock in a research report on Monday, August 12th. Finally, StockNews.com upgraded shares of Trex from a "sell" rating to a "hold" rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $79.94.

Trex Trading Up 6.2 %

TREX stock traded up $4.12 during mid-day trading on Tuesday, hitting $70.63. 5,809,508 shares of the company were exchanged, compared to its average volume of 998,483. The company has a market capitalization of $7.68 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 2.45 and a beta of 1.50. Trex has a twelve month low of $54.57 and a twelve month high of $101.91. The firm has a fifty day simple moving average of $65.23 and a 200 day simple moving average of $75.72.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. The company had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. Trex had a net margin of 21.07% and a return on equity of 33.53%. The firm's revenue for the quarter was down 23.1% compared to the same quarter last year. During the same period last year, the business earned $0.57 EPS. As a group, sell-side analysts anticipate that Trex will post 2.04 earnings per share for the current year.

Institutional Investors Weigh In On Trex

Hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new stake in shares of Trex in the 2nd quarter valued at approximately $31,000. UMB Bank n.a. lifted its position in shares of Trex by 150.8% in the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company's stock valued at $43,000 after acquiring an additional 392 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trex in the 2nd quarter valued at approximately $44,000. Quarry LP lifted its position in shares of Trex by 576.4% in the 2nd quarter. Quarry LP now owns 602 shares of the construction company's stock valued at $45,000 after acquiring an additional 513 shares in the last quarter. Finally, Mather Group LLC. lifted its position in shares of Trex by 142.3% in the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company's stock valued at $47,000 after acquiring an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company's stock.

About Trex

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.