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.
Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, October 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.13. Trex had a net margin of 16.61% and a return on equity of 51.30%. The company had revenue of $140.19 million during the quarter, compared to analysts’ expectations of $125.30 million. During the same period in the previous year, the company earned $0.26 EPS. The business’s quarterly revenue was up 32.0% compared to the same quarter last year. analysts predict that Trex will post 3.14 earnings per share for the current year.
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.