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Trex Co. (NASDAQ:TREX) was upgraded by investment analysts at TheStreet from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, AnalystRatings.Net reports.

The analysts wrote, “Trex Company (TREX) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, notable return on equity, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.”

Trex Co. (NASDAQ:TREX) traded up 1.57% on Wednesday, hitting $76.98. 66,809 shares of the company’s stock traded hands. Trex Co. has a 52 week low of $41.25 and a 52 week high of $86.85. The stock has a 50-day moving average of $69.24 and a 200-day moving average of $61.4. The company has a market cap of $1.288 billion and a price-to-earnings ratio of 37.52.

Trex Co. (NASDAQ:TREX) last released its earnings data on Monday, February 24th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.07 by $0.16. The company had revenue of $63.80 million for the quarter, compared to the consensus estimate of $50.63 million. On average, analysts predict that Trex Co. will post $2.76 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Stephens downgraded shares of Trex Co. from an “overweight” rating to an “equal weight” rating in a research note on Tuesday. They now have a $80.00 price target on the stock. Analysts at Griffin Securities downgraded shares of Trex Co. to a “neutral” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $71.00.

In other Trex Co. news, Director Richard Posey sold 1,235 shares of Trex Co. stock on the open market in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $81.94, for a total value of $101,195.90. Following the completion of the sale, the director now directly owns 3,742 shares in the company, valued at approximately $306,619. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Trex Company, Inc manufactures and distributes wood/plastic composite products, as well as related accessories, primarily for residential and commercial decking and railing applications.

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