Trex Company, Inc. (TREX) Given Average Rating of “Buy” by Analysts
Shares of Trex Company, Inc. (NYSE:TREX) have received an average recommendation of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $77.50.
TREX has been the subject of several analyst reports. Zacks Investment Research raised shares of Trex from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, June 15th. BidaskClub raised Trex from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Stifel Nicolaus reiterated a “hold” rating and set a $70.00 target price on shares of Trex in a research report on Friday, July 14th. Sidoti started coverage on Trex in a research report on Thursday, June 15th. They set a “buy” rating on the stock. Finally, Griffin Securities downgraded Trex from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 1st.
Trex (TREX) traded down 0.562% during trading on Wednesday, reaching $87.645. The company had a trading volume of 74,942 shares. The firm has a 50-day moving average of $79.27 and a 200-day moving average of $71.94. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 33.606 and a beta of 2.34. Trex has a 1-year low of $50.81 and a 1-year high of $90.09.
Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, July 31st. The construction company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.09. The company had revenue of $158.00 million during the quarter, compared to the consensus estimate of $160.40 million. Trex had a net margin of 15.12% and a return on equity of 56.76%. Trex’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 EPS. On average, analysts anticipate that Trex will post $2.99 EPS for the current fiscal year.
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In other Trex news, SVP William R. Gupp sold 3,500 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $77.18, for a total value of $270,130.00. Following the sale, the senior vice president now owns 41,711 shares of the company’s stock, valued at $3,219,254.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Bryan Horix Fairbanks sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $75.43, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 14,680 shares of company stock worth $1,145,196 in the last three months. Corporate insiders own 0.95% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its holdings in Trex by 2.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock valued at $142,000 after buying an additional 56 shares during the last quarter. Riverhead Capital Management LLC increased its position in Trex by 91.5% during the second quarter. Riverhead Capital Management LLC now owns 2,298 shares of the construction company’s stock worth $156,000 after buying an additional 1,098 shares in the last quarter. Victory Capital Management Inc. increased its position in Trex by 12.9% during the second quarter. Victory Capital Management Inc. now owns 2,465 shares of the construction company’s stock worth $167,000 after buying an additional 282 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Trex in the first quarter worth $177,000. Finally, D.A. Davidson & CO. raised its holdings in shares of Trex by 13.7% in the second quarter. D.A. Davidson & CO. now owns 2,664 shares of the construction company’s stock worth $180,000 after acquiring an additional 322 shares during the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.
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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