Trex Co. (NYSE:TREX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Trex Company, Inc. is a manufacturer of wood-alternative decking and railing. Trex Company, Inc. is based in Winchester, United States. “
Other analysts have also issued research reports about the company. Stifel Nicolaus increased their target price on Trex from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, November 9th. FBR & Co lowered Trex from an “outperform” rating to a “market perform” rating and set a $61.00 target price on the stock. in a research note on Tuesday. Seaport Global Securities began coverage on Trex in a research note on Tuesday. They issued a “neutral” rating on the stock. Wedbush increased their target price on Trex from $53.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 19th. Finally, CL King lowered Trex from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 3rd. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Trex presently has a consensus rating of “Hold” and a consensus target price of $63.00.
Trex (NYSE:TREX) opened at 69.82 on Friday. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 33.81 and a beta of 2.21. Trex has a 52-week low of $31.11 and a 52-week high of $72.21. The stock has a 50 day moving average price of $59.40 and a 200 day moving average price of $53.27.
Trex (NYSE:TREX) last released its quarterly earnings results on Monday, November 7th. The company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. Trex had a return on equity of 65.45% and a net margin of 13.02%. The company had revenue of $106.20 million for the quarter, compared to analyst estimates of $105.14 million. During the same quarter in the prior year, the firm posted $0.26 EPS. Trex’s quarterly revenue was up 13.0% compared to the same quarter last year. Analysts expect that Trex will post $2.43 EPS for the current fiscal year.
In other news, Director Richard E. Posey sold 2,180 shares of the stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $68.44, for a total transaction of $149,199.20. Following the transaction, the director now owns 16,235 shares of the company’s stock, valued at approximately $1,111,123.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank H. Merlotti, Jr. sold 1,801 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $66.21, for a total value of $119,244.21. Following the sale, the director now directly owns 11,354 shares in the company, valued at approximately $751,748.34. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
A number of large investors have recently modified their holdings of TREX. State Street Corp increased its stake in shares of Trex by 13.1% in the first quarter. State Street Corp now owns 595,269 shares of the company’s stock worth $28,531,000 after buying an additional 68,782 shares during the last quarter. UBS Group AG increased its stake in shares of Trex by 1,671.2% in the first quarter. UBS Group AG now owns 23,026 shares of the company’s stock worth $1,103,000 after buying an additional 21,726 shares during the last quarter. Riverhead Capital Management LLC bought a new stake in shares of Trex during the first quarter worth $188,000. Barclays PLC increased its stake in shares of Trex by 13,816.3% in the first quarter. Barclays PLC now owns 13,638 shares of the company’s stock worth $640,000 after buying an additional 13,540 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Trex by 101.1% in the second quarter. BNP Paribas Arbitrage SA now owns 9,267 shares of the company’s stock worth $416,000 after buying an additional 4,659 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company markets its products under the brand name Trex. The Company offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories. Its decking products include Trex Transcend, Trex Enhance and Trex Select.