Trex Company, Inc. (NYSE:TREX) Given Consensus Recommendation of “Buy” by Brokerages
Trex Company, Inc. (NYSE:TREX) has earned an average recommendation of “Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $69.20.
A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $70.00 price objective on shares of Trex in a report on Friday, July 14th. BidaskClub raised shares of Trex from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Sidoti assumed coverage on shares of Trex in a report on Thursday, June 15th. They set a “buy” rating for the company. Finally, Seaport Global Securities raised shares of Trex from a “neutral” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Thursday, June 1st.
In related news, insider James E. Cline sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were 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 owns 53,381 shares of the company’s stock, valued at $3,469,765. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frank H. Merlotti, Jr. sold 2,057 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $63.81, for a total transaction of $131,257.17. Following the completion of the sale, the director now directly owns 11,718 shares of the company’s stock, valued at approximately $747,725.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,557 shares of company stock valued at $1,332,987. Company insiders own 0.95% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Trex 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. Clearbridge Investments LLC raised its stake in shares of Trex 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. Norges Bank bought a new stake in shares of Trex during the fourth quarter worth $19,743,000. Vanguard Group Inc. raised its stake in shares of Trex 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. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Trex during the first quarter worth $10,134,000. 92.61% of the stock is owned by institutional investors and hedge funds.
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Trex (TREX) traded up 1.53% during trading on Friday, hitting $73.12. The stock had a trading volume of 221,316 shares. The company has a market cap of $2.15 billion, a PE ratio of 29.87 and a beta of 2.34. The stock has a 50-day moving average price of $68.19 and a 200-day moving average price of $68.35. Trex has a 52 week low of $47.38 and a 52 week high of $78.15.
Trex (NYSE:TREX) last announced its quarterly earnings results on Thursday, May 4th. The construction company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.07. The firm had revenue of $144.80 million during the quarter, compared to analysts’ expectations of $144.26 million. Trex had a net margin of 14.35% and a return on equity of 61.02%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 earnings per share. Equities analysts predict that Trex will post $2.85 EPS for the current year.
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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