Trex Co. (TREX) Given New $55.00 Price Target at Wedbush
Trex Co. (NYSE:TREX) had its price objective boosted by equities research analysts at Wedbush from $53.00 to $55.00 in a report released on Wednesday. The firm presently has a “neutral” rating on the stock. Wedbush’s price target suggests a potential downside of 6.37% from the stock’s current price.
A number of other analysts have also recently weighed in on TREX. Zacks Investment Research raised Trex from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Wednesday, June 29th. FBR & Co increased their price objective on Trex from $50.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Finally, CL King cut Trex from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 3rd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $60.00.
Shares of Trex (NYSE:TREX) opened at 58.74 on Wednesday. The stock has a market capitalization of $1.72 billion, a PE ratio of 30.63 and a beta of 2.02. Trex has a 52-week low of $31.11 and a 52-week high of $64.36. The stock has a 50 day moving average price of $59.20 and a 200-day moving average price of $51.24.
Trex (NYSE:TREX) last released its quarterly earnings results on Monday, August 1st. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.08. The firm had revenue of $146.45 million for the quarter, compared to the consensus estimate of $145.19 million. Trex had a return on equity of 61.76% and a net margin of 12.68%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS. On average, equities research analysts anticipate that Trex will post $2.31 EPS for the current fiscal year.
In other news, insider James E. Cline sold 6,873 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $55.49, for a total value of $381,382.77. Following the completion of the sale, the insider now directly owns 100,543 shares of the company’s stock, valued at approximately $5,579,131.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard E. Posey sold 5,266 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $54.99, for a total value of $289,577.34. Following the completion of the sale, the director now directly owns 18,438 shares of the company’s stock, valued at $1,013,905.62. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in Trex by 172.2% in the first quarter. Royal Bank of Canada now owns 5,204 shares of the company’s stock valued at $249,000 after buying an additional 3,292 shares in the last quarter. Barclays PLC boosted its stake in Trex by 13,816.3% in the first quarter. Barclays PLC now owns 13,638 shares of the company’s stock valued at $640,000 after buying an additional 13,540 shares in the last quarter. Riverhead Capital Management LLC acquired a new stake in Trex during the first quarter valued at approximately $188,000. Uniplan Investment Counsel Inc. boosted its stake in Trex by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 127,215 shares of the company’s stock valued at $6,097,000 after buying an additional 424 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Trex during the first quarter valued at approximately $1,705,000. 97.36% of the stock is owned by institutional investors and hedge funds.
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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