Trex Co. (NYSE:TREX) had its price target raised by Stifel Nicolaus from $56.00 to $58.00 in a report issued on Wednesday. The firm currently has a hold rating on the stock.

TREX has been the subject of a number of other research reports. Wedbush lifted their price objective on Trex from $53.00 to $55.00 and gave the company a neutral rating in a research report on Wednesday, October 19th. CL King downgraded 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. Zacks Investment Research downgraded Trex from a strong-buy rating to a hold rating in a research report on Thursday, October 6th. Finally, FBR & Co lifted their price objective on Trex from $50.00 to $60.00 and gave the company an outperform rating in a research report on Tuesday, August 2nd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $59.00.

Shares of Trex (NYSE:TREX) opened at 64.21 on Wednesday. The stock has a market cap of $1.88 billion, a P/E ratio of 31.09 and a beta of 2.21. The firm’s 50-day moving average price is $57.25 and its 200 day moving average price is $52.04. Trex has a one year low of $31.11 and a one year high of $65.16.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.03. The business earned $106.20 million during the quarter, compared to the consensus estimate of $105.14 million. Trex had a return on equity of 65.45% and a net margin of 13.02%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share. Equities research analysts expect that Trex will post $2.40 EPS for the current fiscal year.

In other Trex news, VP Adam Dante Zambanini sold 5,730 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $61.61, for a total transaction of $353,025.30. Following the transaction, the vice president now owns 34,396 shares in the company, valued at $2,119,137.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Patricia B. Robinson sold 10,836 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $59.83, for a total value of $648,317.88. Following the transaction, the director now owns 22,390 shares in the company, valued at approximately $1,339,593.70. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of TREX. BB&T Corp raised its stake in shares of Trex by 1.1% in the third quarter. BB&T Corp now owns 4,828 shares of the company’s stock worth $284,000 after buying an additional 53 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Trex by 2.6% in the third quarter. Victory Capital Management Inc. now owns 2,526 shares of the company’s stock worth $148,000 after buying an additional 64 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Trex by 1.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,510 shares of the company’s stock worth $382,000 after buying an additional 120 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Trex by 2.7% in the second quarter. Royal Bank of Canada now owns 5,347 shares of the company’s stock worth $241,000 after buying an additional 143 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Trex by 7.8% in the second quarter. BlackRock Inc. now owns 2,900 shares of the company’s stock worth $129,000 after buying an additional 210 shares during the last quarter. Institutional investors own 93.02% of the company’s stock.

About Trex

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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