Trex Co. (TREX) Rating Lowered to Hold at Zacks Investment Research
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 Tuesday.
According to Zacks, “Trex Company, Inc. is a manufacturer of wood-alternative decking and railing. Trex Company, Inc. is based in Winchester, United States. “
Several other research analysts also recently commented on the stock. Stifel Nicolaus raised their price target on shares of Trex from $56.00 to $58.00 and gave the company a “hold” rating in a report on Wednesday, November 9th. Wedbush raised their price target on shares of Trex from $53.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 19th. CL King downgraded shares of Trex from a “buy” rating to a “neutral” rating in a report on Wednesday, August 3rd. They noted that the move was a valuation call. Finally, FBR & Co lifted their price objective on shares of Trex from $50.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $59.00.
Shares of Trex (NYSE:TREX) opened at 66.71 on Tuesday. Trex has a 12-month low of $31.11 and a 12-month high of $67.84. The firm has a market capitalization of $1.95 billion, a P/E ratio of 32.31 and a beta of 2.21. The company has a 50-day moving average price of $57.92 and a 200-day moving average price of $52.45.
Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. Trex had a net margin of 13.02% and a return on equity of 65.45%. The firm earned $106.20 million during the quarter, compared to the consensus estimate of $105.14 million. During the same period last year, the firm earned $0.26 EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts predict that Trex will post $2.43 EPS for the current year.
In related news, VP Adam Dante Zambanini sold 5,730 shares of Trex stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $61.61, for a total value of $353,025.30. Following the transaction, the vice president now owns 34,396 shares in the company, valued at approximately $2,119,137.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank H. Merlotti, Jr. sold 1,801 shares of Trex stock in a transaction on 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 in the company, valued at approximately $751,748.34. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of Trex by 34.3% in the second quarter. Victory Capital Management Inc. now owns 2,462 shares of the company’s stock worth $111,000 after buying an additional 629 shares during the last quarter. BlackRock Inc. boosted its position in Trex by 152.8% in the first quarter. BlackRock Inc. now owns 2,690 shares of the company’s stock worth $129,000 after buying an additional 1,626 shares during the last quarter. M&R Capital Management Inc. purchased a new position in Trex during the second quarter worth about $134,000. Nisa Investment Advisors LLC boosted its position in Trex by 500.0% in the second quarter. Nisa Investment Advisors LLC now owns 3,000 shares of the company’s stock worth $135,000 after buying an additional 2,500 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in Trex during the third quarter worth about $159,000. Institutional investors own 93.02% of the company’s stock.
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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