Citigroup Has Lowered Expectations for Trex (NYSE:TREX) Stock Price

Trex (NYSE:TREX) had its target price decreased by analysts at Citigroup from $84.00 to $78.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. Citigroup’s price target would indicate a potential upside of 10.51% from the stock’s previous close.

TREX has been the topic of several other reports. DA Davidson raised their price objective on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. BMO Capital Markets upped their price objective on shares of Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Jefferies Financial Group dropped their price objective on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Barclays decreased their target price on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Finally, StockNews.com lowered shares of Trex from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Trex has an average rating of “Hold” and an average price target of $79.81.

Trex Price Performance

NYSE:TREX traded up $1.15 during trading hours on Monday, reaching $70.58. 435,266 shares of the company were exchanged, compared to its average volume of 497,291. The company has a market capitalization of $7.56 billion, a P/E ratio of 32.23, a P/E/G ratio of 3.50 and a beta of 1.49. The business has a 50 day moving average of $72.60 and a 200 day moving average of $70.71. Trex has a 1-year low of $58.68 and a 1-year high of $101.91.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $233.72 million during the quarter, compared to the consensus estimate of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. Trex’s revenue for the quarter was down 23.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 earnings per share. As a group, equities research analysts anticipate that Trex will post 2.05 earnings per share for the current fiscal year.

Institutional Trading of Trex

Large investors have recently modified their holdings of the stock. Natixis Advisors LLC increased its holdings in shares of Trex by 9.8% during the second quarter. Natixis Advisors LLC now owns 48,603 shares of the construction company’s stock valued at $3,602,000 after acquiring an additional 4,344 shares in the last quarter. Arizona State Retirement System increased its stake in Trex by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 30,410 shares of the construction company’s stock valued at $2,254,000 after purchasing an additional 565 shares in the last quarter. Candriam S.C.A. acquired a new position in Trex during the second quarter worth $4,355,000. Harrington Investments INC lifted its stake in shares of Trex by 1.4% in the second quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock valued at $727,000 after buying an additional 140 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Trex during the second quarter valued at about $44,000. Institutional investors and hedge funds 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.