Trex Company, Inc. (TREX) Receives Hold Rating from Stifel Nicolaus
Trex Company, Inc. (NYSE:TREX)‘s stock had its “hold” rating reiterated by research analysts at Stifel Nicolaus in a research report issued on Friday. They currently have a $70.00 price objective on the construction company’s stock. Stifel Nicolaus’ price target points to a potential downside of 0.27% from the company’s previous close.
A number of other brokerages also recently commented on TREX. Zacks Investment Research downgraded Trex Company from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. BidaskClub upgraded Trex Company from a “hold” rating to a “buy” rating in a report on Wednesday. Sidoti assumed coverage on Trex Company in a report on Thursday, June 15th. They set a “buy” rating for the company. Finally, Seaport Global Securities upgraded Trex Company from a “neutral” rating to a “buy” rating and set a $74.00 target price for the company in a report on Thursday, June 1st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $69.20.
Shares of Trex Company (NYSE:TREX) traded up 0.20% on Friday, reaching $70.19. 136,630 shares of the company were exchanged. Trex Company has a 12-month low of $44.38 and a 12-month high of $78.16. The stock’s 50-day moving average is $66.02 and its 200 day moving average is $68.04. The firm has a market capitalization of $2.06 billion, a PE ratio of 28.67 and a beta of 2.34.
Trex Company (NYSE:TREX) last announced its quarterly earnings data on Thursday, May 4th. The construction company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.07. The firm had revenue of $144.80 million during the quarter, compared to the consensus estimate of $144.26 million. Trex Company had a return on equity of 61.02% and a net margin of 14.35%. The business’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 earnings per share. On average, analysts forecast that Trex Company will post $2.85 EPS for the current year.
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In related news, Director Frank H. Merlotti, Jr. sold 2,057 shares of the company’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 sale, the director now directly owns 11,718 shares of the company’s stock, valued at $747,725.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider James E. Cline sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $65.00, for a total value of $975,000.00. Following the completion of the sale, the insider now directly owns 53,381 shares in the company, valued at $3,469,765. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,557 shares of company stock worth $1,332,987. 0.95% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of TREX. BlackRock Inc. boosted its stake in Trex Company by 132,134.8% in the first quarter. BlackRock Inc. now owns 3,715,799 shares of the construction company’s stock worth $257,840,000 after buying an additional 3,712,989 shares in the last quarter. Vanguard Group Inc. boosted its stake in Trex Company by 6.5% in the first quarter. Vanguard Group Inc. now owns 3,251,958 shares of the construction company’s stock worth $225,653,000 after buying an additional 197,846 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Trex Company by 2.3% in the third quarter. BlackRock Fund Advisors now owns 2,215,227 shares of the construction company’s stock worth $130,078,000 after buying an additional 48,916 shares in the last quarter. Eagle Asset Management boosted its stake in Trex Company by 34.8% in the third quarter. Eagle Asset Management now owns 1,840,286 shares of the construction company’s stock worth $61,336,000 after buying an additional 474,677 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake 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 in the last quarter. 92.62% of the stock is currently owned by institutional investors.
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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