Zacks Investment Research upgraded shares of Trex (NYSE:TREX) from a sell rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.
According to Zacks, “Trex Company, Inc. is a manufacturer of wood-alternative decking and railing. Trex Company, Inc. is based in Winchester, United States. “
Other equities analysts have also issued research reports about the company. DA Davidson initiated coverage on Trex in a research note on Friday, April 5th. They issued a buy rating and a $80.00 price objective on the stock. Sidoti upgraded Trex from a neutral rating to a buy rating and set a $80.00 target price for the company in a research report on Friday, March 29th. Stifel Nicolaus upgraded Trex from a hold rating to a buy rating and boosted their target price for the stock from $70.00 to $72.00 in a research report on Thursday, March 28th. Berenberg Bank restated a buy rating and set a $89.00 target price on shares of Trex in a research report on Wednesday, February 27th. Finally, B. Riley restated a buy rating and set a $80.00 target price (up previously from $71.00) on shares of Trex in a research report on Friday, February 15th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $75.13.
Trex stock traded down $0.10 on Wednesday, reaching $61.00. The company’s stock had a trading volume of 7,326 shares, compared to its average volume of 863,010. The firm has a market cap of $3.55 billion, a P/E ratio of 25.99, a P/E/G ratio of 2.53 and a beta of 1.98. Trex has a twelve month low of $50.88 and a twelve month high of $90.74.
Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, April 29th. The construction company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). The business had revenue of $179.57 million during the quarter, compared to analyst estimates of $176.75 million. Trex had a return on equity of 40.07% and a net margin of 18.63%. Trex’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. As a group, equities analysts forecast that Trex will post 2.39 EPS for the current year.
In related news, SVP William R. Gupp sold 4,563 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $68.69, for a total value of $313,432.47. Following the completion of the sale, the senior vice president now owns 63,945 shares in the company, valued at $4,392,382.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James E. Cline sold 13,495 shares of the company’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $77.95, for a total value of $1,051,935.25. Following the completion of the sale, the insider now owns 82,391 shares of the company’s stock, valued at approximately $6,422,378.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,344 shares of company stock valued at $2,514,523. 0.93% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TREX. First Hawaiian Bank bought a new stake in Trex in the fourth quarter valued at about $25,000. Advisors Preferred LLC bought a new stake in shares of Trex in the first quarter worth about $26,000. CENTRAL TRUST Co increased its holdings in shares of Trex by 189.7% in the first quarter. CENTRAL TRUST Co now owns 504 shares of the construction company’s stock worth $31,000 after acquiring an additional 330 shares in the last quarter. Trust Co. of Vermont increased its holdings in shares of Trex by 83.1% in the fourth quarter. Trust Co. of Vermont now owns 606 shares of the construction company’s stock worth $36,000 after acquiring an additional 275 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Trex by 27.9% in the fourth quarter. FMR LLC now owns 632 shares of the construction company’s stock worth $38,000 after acquiring an additional 138 shares in the last quarter. Institutional investors and hedge funds own 94.35% of the company’s stock.
Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.
Further Reading: What is the quiet period?
Get a free copy of the Zacks research report on Trex (TREX)
For more information about research offerings from Zacks Investment Research, visit Zacks.com