Trex Co. (TREX) Given New $55.00 Price Target at Wedbush
Trex Co. (NYSE:TREX) had its target price boosted by equities research analysts at Wedbush from $53.00 to $55.00 in a report issued on Wednesday. The brokerage presently has a “neutral” rating on the stock. Wedbush’s target price points to a potential downside of 6.37% from the stock’s current price.
A number of other equities analysts have also issued reports on TREX. Zacks Investment Research raised Trex from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Wednesday, June 29th. FBR & Co increased their price objective on Trex from $50.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. Finally, CL King lowered Trex from a “buy” rating to a “neutral” rating in a report on Wednesday, August 3rd. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Trex currently has a consensus rating of “Hold” and an average target price of $60.00.
Trex (NYSE:TREX) opened at 58.74 on Wednesday. The firm’s 50-day moving average price is $59.20 and its 200 day moving average price is $51.24. Trex has a 52-week low of $31.11 and a 52-week high of $64.36. The stock has a market cap of $1.72 billion, a P/E ratio of 30.63 and a beta of 2.02.
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Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.08. Trex had a return on equity of 61.76% and a net margin of 12.68%. The business earned $146.45 million during the quarter, compared to analyst estimates of $145.19 million. During the same period in the prior year, the company posted $0.58 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts predict that Trex will post $2.31 earnings per share for the current year.
In other Trex news, VP Adam Dante Zambanini sold 5,730 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $61.61, for a total value of $353,025.30. Following the completion of the sale, the vice president now directly owns 34,396 shares in the company, valued at $2,119,137.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James E. Cline sold 6,873 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $55.49, for a total value of $381,382.77. Following the completion of the sale, the insider now owns 100,543 shares of the company’s stock, valued at $5,579,131.07. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. purchased a new stake in Trex during the first quarter worth $3,552,000. State Street Corp increased its stake in Trex by 13.1% in the first quarter. State Street Corp now owns 595,269 shares of the company’s stock worth $28,531,000 after buying an additional 68,782 shares during the period. Capstone Asset Management Co. increased its stake in Trex by 10.6% in the second quarter. Capstone Asset Management Co. now owns 11,162 shares of the company’s stock worth $501,000 after buying an additional 1,070 shares during the period. Aperio Group LLC increased its stake in Trex by 42.2% in the first quarter. Aperio Group LLC now owns 10,403 shares of the company’s stock worth $499,000 after buying an additional 3,088 shares during the period. Finally, Royal Bank of Canada increased its stake in Trex by 172.2% in the first quarter. Royal Bank of Canada now owns 5,204 shares of the company’s stock worth $249,000 after buying an additional 3,292 shares during the period. Hedge funds and other institutional investors own 97.36% of the company’s stock.
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company markets its products under the brand name Trex. The Company offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories. Its decking products include Trex Transcend, Trex Enhance and Trex Select.
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