Wall Street Zen Upgrades Trex (NYSE:TREX) to “Hold”

Wall Street Zen upgraded shares of Trex (NYSE:TREX) from a sell rating to a hold rating in a report published on Saturday morning.

A number of other research firms have also recently weighed in on TREX. Loop Capital reaffirmed a “hold” rating and set a $66.00 price target on shares of Trex in a research note on Tuesday, August 5th. Citigroup lowered their price target on shares of Trex from $78.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. lowered their price objective on shares of Trex from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. BMO Capital Markets raised shares of Trex from a “market perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Thursday, April 17th. Finally, B. Riley raised shares of Trex to a “strong-buy” rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.93.

Trex Stock Down 1.8%

NYSE:TREX opened at $58.72 on Friday. Trex has a fifty-two week low of $49.01 and a fifty-two week high of $80.74. The stock has a market cap of $6.30 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 2.50 and a beta of 1.51. The firm’s fifty day simple moving average is $59.75 and its 200-day simple moving average is $60.06.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, August 4th. The construction company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. Trex had a net margin of 16.53% and a return on equity of 21.27%. The business had revenue of $387.80 million for the quarter, compared to analysts’ expectations of $377.49 million. During the same period in the prior year, the company posted $0.80 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts anticipate that Trex will post 2.04 earnings per share for the current year.

Insider Activity

In other Trex news, SVP Amy M. Fernandez sold 1,538 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $64.18, for a total transaction of $98,708.84. Following the sale, the senior vice president directly owned 22,953 shares of the company’s stock, valued at $1,473,123.54. This trade represents a 6.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jacob T. Rudolph sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the sale, the senior vice president directly owned 27,527 shares in the company, valued at $1,659,052.29. This represents a 5.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trex

Several hedge funds have recently modified their holdings of TREX. Wells Fargo & Company MN increased its holdings in shares of Trex by 1.8% during the 4th quarter. Wells Fargo & Company MN now owns 159,583 shares of the construction company’s stock worth $11,016,000 after buying an additional 2,799 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of Trex during the 4th quarter worth $122,000. Envestnet Asset Management Inc. increased its holdings in shares of Trex by 8.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 327,247 shares of the construction company’s stock worth $22,590,000 after buying an additional 25,540 shares during the last quarter. Advisory Services Network LLC increased its holdings in shares of Trex by 18.6% during the 4th quarter. Advisory Services Network LLC now owns 14,120 shares of the construction company’s stock worth $975,000 after buying an additional 2,214 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Trex during the 4th quarter worth $17,677,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Company Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.