Trex Company, Inc. (TREX) Receives Average Recommendation of “Buy” from Brokerages
Trex Company, Inc. (NYSE:TREX) has received a consensus recommendation of “Buy” from the eight analysts that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $75.20.
Several research firms recently issued reports on TREX. BidaskClub cut Trex from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research lowered shares of Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus reiterated a “hold” rating and set a $75.00 target price on shares of Trex in a research note on Thursday, August 3rd. FBR & Co boosted their target price on shares of Trex from $69.00 to $80.00 and gave the company a “mkt perform” rating in a research note on Tuesday, August 1st. Finally, Griffin Securities lowered shares of Trex from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 1st.
In other news, CFO Bryan Horix Fairbanks sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $75.43, for a total value of $150,860.00. Following the completion of the sale, the chief financial officer now directly owns 18,167 shares in the company, valued at approximately $1,370,336.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher Paul Gerhard sold 3,920 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $79.69, for a total value of $312,384.80. Following the completion of the sale, the vice president now owns 26,560 shares of the company’s stock, valued at $2,116,566.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,680 shares of company stock valued at $1,145,196. Company insiders own 0.95% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Trex by 132,134.8% in the 1st quarter. BlackRock Inc. now owns 3,715,799 shares of the construction company’s stock worth $257,840,000 after purchasing an additional 3,712,989 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Trex by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 3,251,958 shares of the construction company’s stock worth $225,653,000 after purchasing an additional 197,846 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Trex by 43.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,834,959 shares of the construction company’s stock worth $127,328,000 after purchasing an additional 554,073 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Trex in the 2nd quarter worth $76,849,000. Finally, Wasatch Advisors Inc. increased its stake in shares of Trex by 9.6% in the 2nd quarter. Wasatch Advisors Inc. now owns 946,311 shares of the construction company’s stock worth $64,027,000 after purchasing an additional 83,274 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.
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Shares of Trex (NYSE:TREX) traded up 1.39% during mid-day trading on Friday, hitting $80.40. The company had a trading volume of 282,765 shares. The firm has a market capitalization of $2.36 billion, a PE ratio of 30.83 and a beta of 2.32. The firm has a 50-day moving average price of $75.86 and a 200-day moving average price of $70.21. Trex has a 52 week low of $50.81 and a 52 week high of $82.04.
Trex (NYSE:TREX) last released its quarterly earnings data on Monday, July 31st. The construction company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. The business had revenue of $158 million for the quarter, compared to analysts’ expectations of $160.40 million. Trex had a return on equity of 56.76% and a net margin of 15.12%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS. Equities analysts forecast that Trex will post $2.99 earnings per share 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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