Today: The Trex Co. (TREX) Rating Increased to Buy at The Zacks Investment Research

The Trex Co. (TREX) Rating Increased to Buy at The Zacks Investment Research

Trex Co. (NYSE:TREX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $78.00 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 9.92% from the company’s current price.

According to Zacks, “Trex Company, Inc. is a manufacturer of wood-alternative decking and railing. Trex Company, Inc. is based in Winchester, United States. “

TREX has been the topic of a number of other research reports. Wedbush lowered shares of Trex from an “outperform” rating to a “neutral” rating and upped their target price for the company from $50.00 to $53.00 in a research note on Wednesday, August 3rd. They noted that the move was a valuation call. Stifel Nicolaus upped their target price on shares of Trex from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Wednesday, November 9th. Seaport Global Securities started coverage on shares of Trex in a research note on Tuesday, November 22nd. They issued a “neutral” rating on the stock. CL King lowered shares of 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. Finally, FBR & Co upped their target price on shares of Trex from $50.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $63.00.

Shares of Trex (NYSE:TREX) opened at 70.96 on Thursday. Trex has a 12 month low of $31.11 and a 12 month high of $72.21. The company has a 50-day moving average of $59.70 and a 200-day moving average of $53.45. The firm has a market cap of $2.08 billion, a P/E ratio of 34.36 and a beta of 2.21.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Trex had a net margin of 13.02% and a return on equity of 65.45%. The firm had revenue of $106.20 million for the quarter, compared to analyst estimates of $105.14 million. During the same quarter in the previous year, the business posted $0.26 EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. Equities analysts forecast that Trex will post $2.43 EPS for the current fiscal year.

In other Trex news, VP Adam Dante Zambanini sold 5,730 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $61.61, for a total value of $353,025.30. Following the completion of the transaction, the vice president now owns 34,396 shares in the company, valued at approximately $2,119,137.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frank H. Merlotti, Jr. sold 1,801 shares of the company’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $66.21, for a total transaction of $119,244.21. Following the completion of the transaction, the director now owns 11,354 shares of the company’s stock, valued at approximately $751,748.34. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Whalerock Point Partners LLC purchased a new position in Trex during the third quarter valued at approximately $205,000. Credit Suisse AG boosted its position in Trex by 29.8% in the third quarter. Credit Suisse AG now owns 31,578 shares of the company’s stock valued at $1,855,000 after buying an additional 7,253 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in Trex during the third quarter valued at approximately $159,000. Gotham Asset Management LLC purchased a new position in Trex during the third quarter valued at approximately $1,324,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Trex during the third quarter valued at approximately $1,167,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Trex Company Profile

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.

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