Trex (NYSE:TREX) Price Target Raised to $120.00 at Robert W. Baird

Trex (NYSE:TREX) had its target price upped by Robert W. Baird from $110.00 to $120.00 in a research note released on Monday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the construction company’s stock.

TREX has been the subject of a number of other research reports. BMO Capital Markets lifted their target price on shares of Trex from $92.00 to $98.00 and gave the stock a market perform rating in a research note on Tuesday, May 11th. Truist upgraded shares of Trex from a hold rating to a buy rating and raised their price target for the stock from $100.00 to $120.00 in a report on Monday, April 12th. Loop Capital initiated coverage on shares of Trex in a report on Tuesday, April 13th. They issued a buy rating and a $110.00 price target for the company. Truist Securities raised their price target on shares of Trex from $20.00 to $125.00 in a report on Tuesday, May 11th. Finally, Truist Financial raised their price target on shares of Trex from $20.00 to $125.00 in a report on Tuesday, May 11th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $96.72.

Shares of NYSE TREX opened at $101.78 on Monday. Trex has a twelve month low of $54.10 and a twelve month high of $111.04. The firm has a fifty day simple moving average of $102.28 and a 200 day simple moving average of $90.76. The company has a market capitalization of $11.74 billion, a PE ratio of 70.44 and a beta of 1.46.

Trex (NYSE:TREX) last announced its earnings results on Sunday, May 9th. The construction company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Trex had a net margin of 20.53% and a return on equity of 35.52%. The business had revenue of $245.52 million during the quarter, compared to the consensus estimate of $239.31 million. During the same quarter last year, the firm earned $0.73 earnings per share. Trex’s quarterly revenue was up 22.5% on a year-over-year basis. As a group, analysts anticipate that Trex will post 1.54 earnings per share for the current year.

In other Trex news, Director James E. Cline sold 12,588 shares of Trex stock in a transaction dated Wednesday, February 24th. The shares were sold at an average price of $92.13, for a total value of $1,159,732.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jay M. Gratz sold 2,140 shares of Trex stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $100.92, for a total transaction of $215,968.80. Following the completion of the sale, the director now directly owns 22,630 shares in the company, valued at approximately $2,283,819.60. The disclosure for this sale can be found here. Insiders have sold 43,592 shares of company stock worth $4,247,023 over the last three months. 0.79% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in TREX. Amundi Pioneer Asset Management Inc. raised its position in Trex by 50.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 337,153 shares of the construction company’s stock worth $20,742,000 after acquiring an additional 113,161 shares during the period. Sowell Financial Services LLC raised its position in Trex by 368.4% in the fourth quarter. Sowell Financial Services LLC now owns 1,199 shares of the construction company’s stock worth $100,000 after acquiring an additional 943 shares during the period. Raymond James Trust N.A. bought a new stake in Trex in the fourth quarter worth about $227,000. Tributary Capital Management LLC bought a new stake in Trex in the fourth quarter worth about $887,000. Finally, Summit Creek Advisors LLC raised its position in Trex by 11.9% in the fourth quarter. Summit Creek Advisors LLC now owns 152,602 shares of the construction company’s stock worth $12,776,000 after acquiring an additional 16,230 shares during the period. 98.56% of the stock is currently owned by institutional investors and hedge funds.

Trex Company Profile

Trex Company, Inc manufactures and distributes wood and plastic composite products, and related accessories primarily for residential decking, and railing applications in the United States. It offers Trex Transcend, Trex Select, and Trex Enhance protective shells for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening systems; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.

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Analyst Recommendations for Trex (NYSE:TREX)

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