Trex Co. (NYSE:TREX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage currently has a $77.00 price target on the stock. Zacks Investment Research’s target price would indicate a potential upside of 11.61% from the company’s previous close.

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

A number of other brokerages have also recently commented on TREX. Wedbush cut Trex from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $50.00 to $53.00 in a research report on Wednesday, August 3rd. They noted that the move was a valuation call. Stifel Nicolaus lifted their price target on Trex from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, November 9th. FBR & Co lifted their price target 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 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. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Trex currently has a consensus rating of “Hold” and a consensus target price of $62.50.

Analyst Recommendations for Trex (NYSE:TREX)

Trex (NYSE:TREX) opened at 68.99 on Friday. Trex has a 1-year low of $31.11 and a 1-year high of $69.58. The stock has a 50 day moving average price of $57.92 and a 200-day moving average price of $52.45. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 33.41 and a beta of 2.21.

Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.45 EPS for the quarter, topping the Zacks’ 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 earned $106.20 million during the quarter, compared to analysts’ expectations of $105.14 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts forecast 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 dated Wednesday, September 7th. The stock was 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 sale was disclosed in a document filed 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 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 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. 1.40% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in shares of Trex by 13.1% in the first quarter. State Street Corp now owns 595,269 shares of the company’s stock valued at $28,531,000 after buying an additional 68,782 shares in the last quarter. Capstone Asset Management Co. raised its position in shares of Trex by 10.6% in the second quarter. Capstone Asset Management Co. now owns 11,162 shares of the company’s stock valued at $501,000 after buying an additional 1,070 shares in the last quarter. Barclays PLC raised its position in shares of 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. Victory Capital Management Inc. raised 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 valued at $111,000 after buying an additional 629 shares in the last quarter. Finally, UBS Group AG raised its position 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 valued at $1,103,000 after buying an additional 21,726 shares in the last quarter. Hedge funds and other institutional investors own 93.02% 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.

5 Day Chart for NYSE:TREX

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