Trex (NYSE:TREX) Stock Rating Upgraded by DA Davidson

Trex (NYSE:TREX) was upgraded by equities researchers at DA Davidson from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, MarketBeat reports. The firm presently has a $50.00 price objective on the construction company’s stock, up from their prior price objective of $45.00. DA Davidson’s price objective indicates a potential upside of 18.56% from the stock’s current price.

A number of other research firms also recently weighed in on TREX. Deutsche Bank Aktiengesellschaft downgraded Trex from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research note on Wednesday, November 5th. Vertical Research lowered shares of Trex from a “buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a research report on Wednesday, November 5th. William Blair downgraded shares of Trex from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 5th. Wall Street Zen lowered shares of Trex from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Benchmark reduced their price objective on shares of Trex from $80.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Trex currently has an average rating of “Hold” and a consensus price target of $47.25.

Trex Stock Up 1.0%

TREX stock opened at $42.17 on Monday. The company has a 50 day moving average of $34.74 and a two-hundred day moving average of $49.84. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 22.92 and a beta of 1.55. Trex has a 12-month low of $29.77 and a 12-month high of $75.55.

Trex (NYSE:TREX) last posted its quarterly earnings results on Tuesday, November 4th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.06). Trex had a net margin of 16.76% and a return on equity of 21.90%. The company had revenue of $285.35 million for the quarter, compared to analysts’ expectations of $301.74 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The company’s revenue was up 22.1% on a year-over-year basis. On average, research analysts anticipate that Trex will post 2.04 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Prithvi Gandhi purchased 15,000 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were bought at an average cost of $31.92 per share, for a total transaction of $478,800.00. Following the transaction, the chief financial officer directly owned 30,664 shares of the company’s stock, valued at approximately $978,794.88. This trade represents a 95.76% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trex

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its position in shares of Trex by 16.8% in the 2nd quarter. CWM LLC now owns 1,141 shares of the construction company’s stock worth $62,000 after acquiring an additional 164 shares during the period. AQR Capital Management LLC raised its stake in shares of Trex by 3.2% in the first quarter. AQR Capital Management LLC now owns 5,642 shares of the construction company’s stock valued at $320,000 after purchasing an additional 177 shares in the last quarter. ProShare Advisors LLC lifted its position in Trex by 4.1% in the second quarter. ProShare Advisors LLC now owns 4,754 shares of the construction company’s stock worth $259,000 after purchasing an additional 189 shares during the period. Louisiana State Employees Retirement System boosted its stake in Trex by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the construction company’s stock worth $1,642,000 after buying an additional 200 shares in the last quarter. Finally, State of Michigan Retirement System increased its holdings in Trex by 0.8% in the 2nd quarter. State of Michigan Retirement System now owns 25,822 shares of the construction company’s stock valued at $1,404,000 after buying an additional 200 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.