Trex (NYSE:TREX) was upgraded by analysts at B. Riley from a “neutral” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $125.00 price target on the construction company’s stock, up from their prior price target of $96.00. B. Riley’s price objective would indicate a potential upside of 14.52% from the company’s previous close.
Several other brokerages have also recently issued reports on TREX. FBR & Co boosted their price objective on shares of Trex from $80.00 to $96.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Stifel Nicolaus lowered their price objective on shares of Trex from $100.00 to $89.00 and set a “hold” rating for the company in a research note on Friday, December 8th. Zacks Investment Research cut shares of Trex from a “buy” rating to a “hold” rating in a research note on Saturday, November 11th. Sidoti cut shares of Trex from a “buy” rating to a “neutral” rating and set a $89.00 price objective for the company. in a research note on Monday, October 2nd. Finally, SunTrust Banks reissued a “hold” rating and set a $95.00 price objective on shares of Trex in a research note on Wednesday, November 1st. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $93.63.
Shares of Trex (TREX) traded up $0.76 during midday trading on Wednesday, hitting $109.15. 236,400 shares of the stock traded hands, compared to its average volume of 200,950. Trex has a one year low of $61.57 and a one year high of $118.65. The stock has a market cap of $3,189.36, a PE ratio of 36.02 and a beta of 2.43.
In other Trex news, Director Frank H. Merlotti, Jr. sold 2,158 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $105.51, for a total value of $227,690.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jay T. Scripter sold 1,116 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $108.59, for a total transaction of $121,186.44. Following the completion of the transaction, the vice president now directly owns 14,212 shares of the company’s stock, valued at $1,543,281.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,014 shares of company stock valued at $764,529. 0.95% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the business. Whittier Trust Co. acquired a new stake in shares of Trex in the 1st quarter valued at about $103,000. Victory Capital Management Inc. raised its stake in shares of Trex by 34.3% in the 2nd quarter. Victory Capital Management Inc. now owns 2,462 shares of the construction company’s stock valued at $111,000 after purchasing an additional 629 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Trex in the 4th quarter valued at about $127,000. BlackRock Inc. raised its stake in shares of Trex by 152.8% in the 1st quarter. BlackRock Inc. now owns 2,690 shares of the construction company’s stock valued at $129,000 after purchasing an additional 1,626 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Trex by 352.7% in the 3rd quarter. Bessemer Group Inc. now owns 1,435 shares of the construction company’s stock valued at $129,000 after purchasing an additional 1,118 shares in the last quarter. 88.92% of the stock is owned by institutional investors.
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Trex 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.
