Trex Company, Inc. (NYSE:TREX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Trex Company, Inc. is a manufacturer of wood-alternative decking and railing. Trex Company, Inc. is based in Winchester, United States. “

Several other analysts also recently commented on the company. Griffin Securities reiterated a “buy” rating on shares of Trex Company in a research note on Wednesday, March 1st. Stifel Nicolaus increased their target price on Trex Company from $60.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, February 22nd. FBR & Co increased their target price on Trex Company from $61.00 to $69.00 and gave the company a “mkt perform” rating in a research note on Tuesday, February 28th. Finally, Seaport Global Securities upgraded Trex Company from a “neutral” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Thursday, June 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Trex Company presently has an average rating of “Hold” and an average price target of $68.80.

Analyst Recommendations for Trex Company (NYSE:TREX)

Shares of Trex Company (NYSE TREX) traded up 0.10% on Wednesday, hitting $67.15. The company had a trading volume of 19,841 shares. Trex Company has a 52 week low of $39.74 and a 52 week high of $78.15. The firm’s 50 day moving average price is $67.17 and its 200-day moving average price is $68.04. The stock has a market capitalization of $1.97 billion, a PE ratio of 27.43 and a beta of 2.30.

Trex Company (NYSE:TREX) last issued its earnings results on Thursday, May 4th. The construction company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.88 by $0.07. Trex Company had a return on equity of 61.02% and a net margin of 14.35%. The business had revenue of $144.80 million for the quarter, compared to the consensus estimate of $144.26 million. During the same period last year, the business posted $0.79 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. Analysts forecast that Trex Company will post $2.84 earnings per share for the current fiscal year.

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In other news, SVP William R. Gupp sold 3,500 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $64.78, for a total value of $226,730.00. Following the transaction, the senior vice president now directly owns 41,811 shares in the company, valued at approximately $2,708,516.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frank H. Merlotti, Jr. sold 2,057 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $63.81, for a total value of $131,257.17. Following the completion of the transaction, the director now owns 11,718 shares in the company, valued at $747,725.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,557 shares of company stock worth $1,332,987. Company insiders own 0.95% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in TREX. Clearbridge Investments LLC increased its position in Trex Company by 43.3% in the first quarter. Clearbridge Investments LLC now owns 1,834,959 shares of the construction company’s stock worth $127,328,000 after buying an additional 554,073 shares during the period. Westwood Holdings Group Inc. increased its position in Trex Company by 2.3% in the first quarter. Westwood Holdings Group Inc. now owns 202,113 shares of the construction company’s stock worth $14,024,000 after buying an additional 4,457 shares during the period. Shelton Capital Management increased its position in Trex Company by 5.5% in the first quarter. Shelton Capital Management now owns 17,400 shares of the construction company’s stock worth $1,207,000 after buying an additional 902 shares during the period. Paloma Partners Management Co increased its position in Trex Company by 5.2% in the first quarter. Paloma Partners Management Co now owns 10,600 shares of the construction company’s stock worth $736,000 after buying an additional 528 shares during the period. Finally, AQR Capital Management LLC increased its position in Trex Company by 3.8% in the first quarter. AQR Capital Management LLC now owns 28,660 shares of the construction company’s stock worth $1,989,000 after buying an additional 1,039 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Trex Company 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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