Barclays Issues Pessimistic Forecast for Trex (NYSE:TREX) Stock Price

Trex (NYSE:TREX) had its price target lowered by research analysts at Barclays from $67.00 to $54.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the construction company’s stock. Barclays‘s price objective suggests a potential downside of 5.94% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on TREX. Deutsche Bank Aktiengesellschaft assumed coverage on Trex in a report on Tuesday, April 1st. They set a “buy” rating and a $85.00 price target for the company. Truist Financial lowered their target price on Trex from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. UBS Group reduced their price target on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Citigroup lowered their price objective on shares of Trex from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, Jefferies Financial Group reduced their target price on shares of Trex from $81.00 to $71.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $78.24.

Trex Price Performance

Shares of TREX stock opened at $57.41 on Tuesday. The stock’s fifty day simple moving average is $61.03 and its 200 day simple moving average is $67.12. Trex has a one year low of $49.01 and a one year high of $94.00. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 26.21, a P/E/G ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX) last announced its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The business 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%. On average, research analysts anticipate that Trex will post 2.04 earnings per share for the current year.

Insider Activity at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the business’s stock in a transaction on Friday, February 28th. The shares were 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 $105,505.40. The trade was a 45.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Xponance Inc. increased its holdings in Trex by 0.7% during the 4th quarter. Xponance Inc. now owns 21,605 shares of the construction company’s stock worth $1,491,000 after purchasing an additional 143 shares in the last quarter. Principal Securities Inc. increased 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 acquiring an additional 147 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Trex by 0.9% during the 4th 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 Trex by 1.8% during the fourth quarter. Harrington Investments INC now owns 9,106 shares of the construction company’s stock worth $629,000 after acquiring an additional 159 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of 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 purchasing an additional 170 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

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.