Trex (NYSE:TREX) Given “Buy” Rating at DA Davidson

DA Davidson restated their buy rating on shares of Trex (NYSE:TREX) in a research note released on Friday,Benzinga reports. DA Davidson currently has a $51.00 target price on the construction company’s stock.

TREX has been the subject of a number of other reports. Barclays reaffirmed an “underweight” rating and set a $36.00 target price (up from $35.00) on shares of Trex in a research report on Monday, May 11th. Citigroup reaffirmed a “neutral” rating and set a $43.00 target price (down from $46.00) on shares of Trex in a research report on Monday, May 11th. Benchmark lowered Trex from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Stifel Nicolaus lifted their target price on Trex from $40.00 to $44.00 and gave the company a “hold” rating in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded Trex from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.42.

Trex Stock Performance

Shares of TREX stock opened at $39.79 on Friday. Trex has a 52-week low of $29.77 and a 52-week high of $68.78. The firm has a market capitalization of $4.13 billion, a P/E ratio of 22.23, a P/E/G ratio of 8.13 and a beta of 1.51. The stock has a 50 day moving average price of $39.37 and a 200 day moving average price of $38.69.

Trex (NYSE:TREX) last issued its earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $343.40 million during the quarter, compared to analyst estimates of $339.99 million. Trex had a return on equity of 19.66% and a net margin of 16.25%.Trex’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. As a group, sell-side analysts forecast that Trex will post 1.68 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its stake in Trex by 77.6% during the 1st quarter. Parallel Advisors LLC now owns 2,120 shares of the construction company’s stock worth $77,000 after buying an additional 926 shares during the last quarter. First Nebraska Trust Co purchased a new position in Trex during the 1st quarter worth $1,993,000. Essential Partners LLC grew its stake in Trex by 24.6% during the 1st quarter. Essential Partners LLC now owns 3,383 shares of the construction company’s stock worth $123,000 after buying an additional 669 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Trex by 43.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,865 shares of the construction company’s stock worth $214,000 after buying an additional 1,781 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in Trex by 26.6% during the 1st quarter. California State Teachers Retirement System now owns 129,321 shares of the construction company’s stock worth $4,710,000 after buying an additional 27,189 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

About Trex

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.