Zacks Investment Research upgraded shares of Trex (NYSE:TREX) from a hold rating to a buy rating in a research report report published on Thursday morning. They currently have $125.00 target price on the construction company’s stock.
According to Zacks, “Trex Company, Inc. is a manufacturer of wood-alternative decking and railing. Trex Company, Inc. is based in Winchester, United States. “
A number of other research analysts have also recently issued reports on the company. Stifel Nicolaus decreased their target price on Trex from $100.00 to $89.00 and set a hold rating on the stock in a research report on Friday, December 8th. B. Riley reiterated a hold rating and issued a $96.00 target price on shares of Trex in a research report on Wednesday, November 8th. SunTrust Banks reiterated a hold rating and issued a $95.00 target price on shares of Trex in a research report on Wednesday, November 1st. FBR & Co boosted their price target on Trex from $80.00 to $96.00 and gave the stock a neutral rating in a report on Tuesday, October 31st. Finally, Sidoti cut Trex from a buy rating to a neutral rating and set a $89.00 price target on the stock. in a report on Monday, October 2nd. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $93.88.
Trex (NYSE:TREX) last released its earnings results on Monday, October 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.13. Trex had a return on equity of 51.30% and a net margin of 16.61%. The firm had revenue of $140.19 million for the quarter, compared to analysts’ expectations of $125.30 million. During the same quarter in the previous year, the business posted $0.26 earnings per share. The business’s revenue for the quarter was up 32.0% on a year-over-year basis. equities analysts expect that Trex will post 3.14 earnings per share for the current fiscal year.
In other news, Director Richard E. Posey sold 2,322 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $111.19, for a total transaction of $258,183.18. Following the sale, the director now directly owns 11,591 shares in the company, valued at $1,288,803.29. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Jay T. Scripter sold 1,116 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $108.59, for a total value of $121,186.44. Following the completion of the sale, the vice president now owns 14,212 shares in the company, valued at $1,543,281.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,014 shares of company stock worth $764,529. Company insiders own 0.95% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TREX. Schwab Charles Investment Management Inc. boosted its holdings in Trex by 3.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 129,238 shares of the construction company’s stock valued at $8,745,000 after acquiring an additional 4,153 shares during the last quarter. Legal & General Group Plc boosted its holdings in Trex by 9.5% in the second quarter. Legal & General Group Plc now owns 56,519 shares of the construction company’s stock valued at $3,825,000 after acquiring an additional 4,918 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Trex by 12.9% in the second quarter. Victory Capital Management Inc. now owns 2,465 shares of the construction company’s stock valued at $167,000 after acquiring an additional 282 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Trex by 2.6% in the second quarter. Principal Financial Group Inc. now owns 242,555 shares of the construction company’s stock valued at $16,411,000 after acquiring an additional 6,191 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in Trex in the second quarter valued at approximately $271,000. Institutional investors and hedge funds own 88.92% of the company’s stock.
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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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