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

Trex (NYSE:TREX) had its target price reduced by analysts at Truist Financial from $75.00 to $50.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Truist Financial’s price target suggests a potential upside of 56.99% from the company’s current price.

TREX has been the topic of several other research reports. William Blair cut Trex from an “outperform” rating to a “market perform” rating in a report on Wednesday. Zacks Research downgraded shares of Trex from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Benchmark cut their price target on shares of Trex from $80.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered shares of Trex from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a report on Wednesday. Finally, Zelman & Associates lowered shares of Trex from an “outperform” rating to a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Trex has an average rating of “Hold” and a consensus price target of $53.89.

Trex Price Performance

NYSE TREX opened at $31.85 on Wednesday. The company’s 50 day simple moving average is $52.92 and its two-hundred day simple moving average is $57.33. Trex has a 1 year low of $31.21 and a 1 year high of $80.74. The stock has a market capitalization of $3.42 billion, a PE ratio of 18.41, a P/E/G ratio of 2.02 and a beta of 1.49.

Trex (NYSE:TREX) last released its quarterly earnings results on Tuesday, November 4th. The construction company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.06). The firm had revenue of $285.35 million during the quarter, compared to the consensus estimate of $301.74 million. Trex had a return on equity of 21.27% and a net margin of 16.53%.The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. Trex has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, research analysts anticipate that Trex will post 2.04 EPS for the current year.

Institutional Trading of Trex

Several institutional investors have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas bought a new stake in shares of Trex in the 1st quarter valued at about $911,000. Envestnet Asset Management Inc. increased its stake in Trex by 13.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 369,825 shares of the construction company’s stock worth $21,487,000 after purchasing an additional 42,578 shares during the period. State of Michigan Retirement System lifted its position in Trex by 0.8% in the first quarter. State of Michigan Retirement System now owns 25,622 shares of the construction company’s stock valued at $1,489,000 after purchasing an additional 200 shares during the last quarter. Xponance Inc. boosted its stake in shares of Trex by 1.9% during the first quarter. Xponance Inc. now owns 22,025 shares of the construction company’s stock valued at $1,280,000 after purchasing an additional 420 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in shares of Trex by 2.6% in the first quarter. New York State Common Retirement Fund now owns 181,349 shares of the construction company’s stock worth $10,536,000 after purchasing an additional 4,600 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

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.