Trex Company, Inc. (TREX) Rating Lowered to Hold at Zacks Investment Research
Trex Company, Inc. (NYSE:TREX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released 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 research firms have also weighed in on TREX. BidaskClub lowered shares of Trex from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 22nd. Sidoti cut shares of Trex from a “buy” rating to a “neutral” rating and set a $89.00 target price on the stock. in a report on Monday. Stifel Nicolaus reiterated a “hold” rating and issued a $75.00 target price on shares of Trex in a research note on Thursday, August 3rd. FBR & Co raised 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 cut Trex from a “buy” rating to a “neutral” rating in a report on Tuesday, August 1st. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $77.50.
Shares of Trex (NYSE TREX) traded up 0.42% during mid-day trading on Wednesday, hitting $88.51. The company’s stock had a trading volume of 100,522 shares. The company has a 50-day moving average price of $79.27 and a 200-day moving average price of $71.94. Trex has a 1-year low of $50.81 and a 1-year high of $90.09. The stock has a market cap of $2.60 billion, a PE ratio of 33.94 and a beta of 2.34.
Trex (NYSE:TREX) last released its earnings results on Monday, July 31st. The construction company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Trex had a return on equity of 56.76% and a net margin of 15.12%. The business had revenue of $158.00 million for the quarter, compared to the consensus estimate of $160.40 million. During the same quarter in the previous year, the business earned $0.79 earnings per share. Trex’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts predict that Trex will post $2.99 EPS for the current fiscal year.
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In other news, VP Christopher Paul Gerhard sold 3,920 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now owns 26,560 shares of the company’s stock, valued at $2,116,566.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bryan Horix Fairbanks sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $75.43, for a total value of $150,860.00. Following the completion of the transaction, 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. Over the last quarter, insiders sold 14,680 shares of company stock worth $1,145,196. Corporate insiders own 0.95% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in TREX. Alps Advisors Inc. boosted its stake in Trex by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 6,776 shares of the construction company’s stock valued at $458,000 after purchasing an additional 18 shares during the period. Pinebridge Investments L.P. grew its holdings in Trex by 1.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,873 shares of the construction company’s stock valued at $262,000 after buying an additional 41 shares in the last quarter. BB&T Corp grew its holdings in Trex by 1.1% in the 3rd quarter. BB&T Corp now owns 4,828 shares of the construction company’s stock valued at $284,000 after buying an additional 53 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Trex by 2.8% in 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 in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Trex by 2.6% in the 3rd quarter. Victory Capital Management Inc. now owns 2,526 shares of the construction company’s stock valued at $148,000 after buying an additional 64 shares in the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.
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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