BidaskClub upgraded shares of Trex Company, Inc. (NYSE:TREX) from a buy rating to a strong-buy rating in a report issued on Monday morning.
Several other equities research analysts have also recently weighed in on TREX. Stifel Nicolaus reiterated a hold rating and issued a $70.00 target price on shares of Trex in a research note on Friday, July 14th. Sidoti initiated coverage on shares of Trex in a research note on Thursday, June 15th. They issued a buy rating for the company. Zacks Investment Research upgraded shares of Trex from a hold rating to a buy rating and set a $75.00 target price for the company in a research note on Thursday, June 15th. Finally, Seaport Global Securities upgraded shares of Trex from a neutral rating to a buy rating and set a $74.00 target price for the company in a research note on Thursday, June 1st. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. Trex currently has a consensus rating of Buy and a consensus price target of $75.20.
Trex (TREX) opened at 77.77 on Monday. Trex has a 52 week low of $50.81 and a 52 week high of $82.04. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 29.82 and a beta of 2.36. The stock has a 50 day moving average price of $70.20 and a 200 day moving average price of $68.76.
Trex (NYSE:TREX) last released its quarterly earnings results on Monday, July 31st. The construction company reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.09. Trex had a net margin of 15.12% and a return on equity of 62.10%. The company had revenue of $158 million during the quarter, compared to analysts’ expectations of $160.40 million. During the same period in the prior year, the company earned $0.79 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities research analysts expect that Trex will post $2.99 EPS for the current year.
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In other Trex news, SVP William R. Gupp sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $77.18, for a total transaction of $270,130.00. Following the completion of the transaction, the senior vice president now owns 41,711 shares in the company, valued at $3,219,254.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James E. Cline sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $65.00, for a total transaction of $975,000.00. Following the transaction, the insider now owns 53,381 shares of the company’s stock, valued at approximately $3,469,765. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,057 shares of company stock valued at $1,753,977. Corporate insiders own 0.95% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in TREX. Russell Investments Group Ltd. boosted its position in shares of Trex by 154.8% in the first quarter. Russell Investments Group Ltd. now owns 4,916 shares of the construction company’s stock worth $341,000 after buying an additional 2,987 shares in the last quarter. Glen Harbor Capital Management LLC boosted its position in shares of Trex by 0.7% in the first quarter. Glen Harbor Capital Management LLC now owns 37,800 shares of the construction company’s stock worth $2,623,000 after buying an additional 252 shares in the last quarter. Meritage Portfolio Management boosted its position in shares of Trex by 1.4% in the first quarter. Meritage Portfolio Management now owns 88,070 shares of the construction company’s stock worth $6,111,000 after buying an additional 1,235 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Trex by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 3,260 shares of the construction company’s stock worth $226,000 after buying an additional 80 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Trex by 39.0% in the first quarter. Nisa Investment Advisors LLC now owns 4,170 shares of the construction company’s stock worth $289,000 after buying an additional 1,170 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.
Trex Company Profile
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.
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