Zacks Investment Research upgraded shares of Trex (NYSE:TREX) from a hold rating to a buy rating in a report issued on Thursday, January 11th. The brokerage currently has $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 brokerages have also recently issued reports on TREX. FBR & Co increased their price objective on Trex from $80.00 to $96.00 and gave the stock a neutral rating in a report on Tuesday, October 31st. Stifel Nicolaus dropped their price objective on Trex from $100.00 to $89.00 and set a hold rating on the stock in a report on Friday, December 8th. B. Riley restated a hold rating and issued a $96.00 target price on shares of Trex in a research note on Wednesday, November 8th. Sidoti lowered Trex from a buy rating to a neutral rating and set a $89.00 target price on the stock. in a research note on Monday, October 2nd. Finally, SunTrust Banks restated a hold rating and issued a $95.00 target price on shares of Trex in a research note on Wednesday, November 1st. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $99.00.
Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, October 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The business had revenue of $140.19 million for the quarter, compared to analysts’ expectations of $125.30 million. Trex had a return on equity of 51.30% and a net margin of 16.61%. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 EPS. analysts predict that Trex will post 3.14 earnings per share for the current year.
In related news, Director Frank H. Merlotti, Jr. sold 2,158 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $105.51, for a total transaction of $227,690.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jay T. Scripter sold 1,116 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $108.59, for a total value of $121,186.44. Following the transaction, 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. Insiders have sold a total of 8,072 shares of company stock worth $888,262 over the last quarter. Corporate insiders own 0.95% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of TREX. Bessemer Group Inc. lifted its holdings in Trex by 352.7% in the 3rd quarter. Bessemer Group Inc. now owns 1,435 shares of the construction company’s stock worth $129,000 after buying an additional 1,118 shares during the period. Riverhead Capital Management LLC lifted its holdings in Trex by 91.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,298 shares of the construction company’s stock worth $156,000 after buying an additional 1,098 shares during the period. Victory Capital Management Inc. lifted its holdings in Trex by 12.9% in the 2nd quarter. Victory Capital Management Inc. now owns 2,465 shares of the construction company’s stock worth $167,000 after buying an additional 282 shares during the period. D.A. Davidson & CO. lifted its holdings in Trex by 13.7% in the 2nd quarter. D.A. Davidson & CO. now owns 2,664 shares of the construction company’s stock worth $180,000 after buying an additional 322 shares during the period. Finally, Greenwood Capital Associates LLC purchased a new stake in Trex in the 3rd quarter worth approximately $202,000. Institutional investors and hedge funds own 88.73% of the company’s stock.
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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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