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Equities research analysts at Sidoti initiated coverage on shares of Trex Company (NASDAQ:TREX) in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.

A number of other analysts have also recently weighed in on TREX. Analysts at Stifel Nicolaus upgraded shares of Trex Company from a “hold” rating to a “buy” rating in a research note on Tuesday, July 22nd. They now have a $37.00 price target on the stock. Analysts at Off Wall Street reiterated a “sell” rating on shares of Trex Company in a research note on Friday, July 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $38.70.

Trex Company (NASDAQ:TREX) traded up 5.78% during mid-day trading on Thursday, hitting $39.00. 231,512 shares of the company’s stock traded hands. Trex Company has a one year low of $20.625 and a one year high of $43.425. The stock’s 50-day moving average is $33.19 and its 200-day moving average is $33.97. The company has a market cap of $1.283 billion and a P/E ratio of 45.35.

Trex Company (NASDAQ:TREX) last released its earnings data on Monday, August 4th. The company reported $0.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.44 by $0.02. The company had revenue of $121.30 million for the quarter, compared to the consensus estimate of $123.73 million. During the same quarter last year, the company posted $0.86 earnings per share. Trex Company’s revenue was up 23.0% compared to the same quarter last year. Analysts expect that Trex Company will post $1.19 EPS for the current fiscal year.

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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