Trex (NYSE:TREX) Given New $35.00 Price Target at Barclays

Trex (NYSE:TREX) had its price target dropped by equities researchers at Barclays from $39.00 to $35.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the construction company’s stock. Barclays‘s price target indicates a potential downside of 5.20% from the stock’s current price.

TREX has been the topic of a number of other research reports. The Goldman Sachs Group set a $54.00 price objective on shares of Trex and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Trex in a research report on Friday, March 27th. UBS Group lifted their price objective on shares of Trex from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Citigroup lifted their price objective on shares of Trex from $39.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Finally, Wall Street Zen raised shares of Trex from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Trex currently has a consensus rating of “Hold” and a consensus price target of $47.58.

Trex Stock Up 4.1%

NYSE:TREX traded up $1.47 during mid-day trading on Wednesday, reaching $36.92. The company’s stock had a trading volume of 771,193 shares, compared to its average volume of 1,971,934. Trex has a 1 year low of $29.77 and a 1 year high of $68.78. The stock has a fifty day moving average of $39.60 and a 200-day moving average of $40.66. The firm has a market capitalization of $3.84 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 8.18 and a beta of 1.61.

Trex (NYSE:TREX) last released its quarterly earnings data on Tuesday, February 24th. The construction company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The company had revenue of $161.13 million during the quarter, compared to analyst estimates of $144.39 million. Trex had a net margin of 16.22% and a return on equity of 20.29%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. On average, analysts expect that Trex will post 2.04 earnings per share for the current year.

Hedge Funds Weigh In On Trex

Several hedge funds and other institutional investors have recently modified their holdings of TREX. AQR Capital Management LLC raised its position in shares of Trex by 3.2% in the 1st quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock valued at $320,000 after purchasing an additional 177 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Trex by 91.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 822,772 shares of the construction company’s stock worth $47,803,000 after acquiring an additional 392,715 shares during the period. Prudential Financial Inc. lifted its position in Trex by 52.0% during the 2nd quarter. Prudential Financial Inc. now owns 10,456 shares of the construction company’s stock worth $569,000 after acquiring an additional 3,576 shares during the period. Hsbc Holdings PLC lifted its position in Trex by 6.3% during the 2nd quarter. Hsbc Holdings PLC now owns 5,403 shares of the construction company’s stock worth $294,000 after acquiring an additional 322 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Trex during the 2nd quarter worth about $545,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

About Trex

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.