Trex (NYSE:TREX) Price Target Raised to $125.00 at Truist Securities

Trex (NYSE:TREX) had its price objective increased by Truist Securities from $20.00 to $125.00 in a research note published on Tuesday morning, Stock Target Advisor reports.

Several other research analysts also recently weighed in on the company. BMO Capital Markets upped their target price on Trex from $92.00 to $98.00 and gave the stock a market perform rating in a research note on Tuesday. Loop Capital began coverage on shares of Trex in a report on Tuesday, April 13th. They set a buy rating and a $110.00 price objective on the stock. DA Davidson lifted their target price on shares of Trex from $75.00 to $95.00 and gave the company a neutral rating in a research report on Monday, March 1st. Truist upgraded shares of Trex from a hold rating to a buy rating and upped their price target for the stock from $100.00 to $120.00 in a research report on Monday, April 12th. Finally, Truist Financial lifted their price objective on Trex from $20.00 to $125.00 in a report on Tuesday. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $93.97.

Shares of NYSE TREX opened at $106.10 on Tuesday. The company has a market capitalization of $12.29 billion, a PE ratio of 73.43 and a beta of 1.46. The company’s fifty day moving average price is $100.60 and its 200 day moving average price is $89.87. Trex has a 1 year low of $54.10 and a 1 year high of $111.04.

Trex (NYSE:TREX) last issued its quarterly earnings data 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 in the prior year, the firm posted $0.73 earnings per share. The company’s revenue was up 22.5% compared to the same quarter last year. As a group, equities analysts predict that Trex will post 1.54 earnings per share for the current fiscal year.

In related news, Director James E. Cline sold 12,588 shares of the company’s stock in a transaction that occurred on Wednesday, February 24th. The stock was sold at an average price of $92.13, for a total value of $1,159,732.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jay M. Gratz sold 3,692 shares of the stock in a transaction that occurred on Friday, March 26th. The stock was sold at an average price of $90.13, for a total value of $332,759.96. Following the completion of the transaction, the director now owns 24,770 shares of the company’s stock, valued at $2,232,520.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,280 shares of company stock worth $1,860,572. Insiders own 0.79% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Perigon Wealth Management LLC purchased a new position in shares of Trex during the 4th quarter worth $27,000. Tompkins Financial Corp acquired a new position in Trex in the fourth quarter valued at about $31,000. Graves Light Private Wealth Management Inc. purchased a new position in Trex during the fourth quarter worth about $33,000. IFP Advisors Inc increased its position in shares of Trex by 361.6% during the first quarter. IFP Advisors Inc now owns 457 shares of the construction company’s stock valued at $41,000 after acquiring an additional 358 shares during the last quarter. Finally, Montag A & Associates Inc. purchased a new stake in shares of Trex in the 4th quarter valued at approximately $39,000. 98.56% of the stock is currently owned by institutional investors and hedge funds.

About Trex

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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