JPMorgan Chase & Co. Cuts Trex (NYSE:TREX) Price Target to $73.00

Trex (NYSE:TREX) had its price target trimmed by JPMorgan Chase & Co. from $79.00 to $73.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

TREX has been the subject of several other reports. Truist Financial reduced their price objective on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Bank of America cut their target price on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. UBS Group cut their price objective on Trex from $76.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Benchmark reissued a “buy” rating and set a $80.00 target price on shares of Trex in a research note on Monday, March 3rd. Finally, StockNews.com downgraded shares of Trex from a “hold” rating to a “sell” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Trex has a consensus rating of “Hold” and a consensus price target of $78.63.

Trex Trading Down 2.2 %

NYSE:TREX opened at $56.26 on Wednesday. The firm has a market capitalization of $6.03 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 2.51 and a beta of 1.60. The stock has a 50 day moving average of $67.96 and a 200-day moving average of $68.55. Trex has a 52 week low of $54.70 and a 52 week high of $100.77.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. The business had revenue of $167.63 million during the quarter, compared to the consensus estimate of $160.54 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. As a group, analysts predict that Trex will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the transaction, the director now owns 1,705 shares in the company, valued at $105,505.40. This trade represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Trex

A number of hedge funds and other institutional investors have recently bought and sold shares of TREX. Wilmington Savings Fund Society FSB bought a new position in shares of Trex during the third quarter worth $30,000. Mather Group LLC. boosted its position in shares of Trex by 73.5% during the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock worth $31,000 after purchasing an additional 191 shares in the last quarter. Avior Wealth Management LLC lifted its position in Trex by 1,212.8% in the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock valued at $35,000 after acquiring an additional 473 shares in the last quarter. Huntington National Bank lifted its position in Trex by 227.2% in the 4th quarter. Huntington National Bank now owns 566 shares of the construction company’s stock valued at $39,000 after acquiring an additional 393 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in Trex in the 4th quarter valued at $41,000. 95.96% of the stock is owned by institutional investors.

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.