Trex Co. (TREX) Stock Rating Lowered by FBR & Co
Trex Co. (NYSE:TREX) was downgraded by investment analysts at FBR & Co from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday. They presently have a $61.00 price objective on the stock. FBR & Co’s target price would suggest a potential downside of 13.03% from the stock’s current price.
Several other research firms have also recently issued reports on TREX. Wedbush cut shares of Trex from an “outperform” rating to a “neutral” rating and increased their target price for the stock 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 increased their target price on shares of Trex from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, November 9th. Zacks Investment Research upgraded shares of Trex from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research report on Friday, October 21st. Finally, CL King cut shares of 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. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $62.75.
Shares of Trex (NYSE:TREX) opened at 70.14 on Tuesday. Trex has a 52 week low of $31.11 and a 52 week high of $72.21. The company has a 50 day moving average of $58.80 and a 200 day moving average of $52.98. The company has a market cap of $2.05 billion, a PE ratio of 33.97 and a beta of 2.21.
Trex (NYSE:TREX) last posted its earnings results on Monday, November 7th. The company reported $0.45 earnings per share (EPS) for the quarter, topping 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 business had revenue of $106.20 million for the quarter, compared to analysts’ expectations of $105.14 million. During the same period in the prior year, the company posted $0.26 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, analysts expect 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.
A number of institutional investors have recently modified their holdings of TREX. BlackRock Fund Advisors boosted its position in shares of Trex by 2.3% in the third quarter. BlackRock Fund Advisors now owns 2,215,227 shares of the company’s stock worth $130,078,000 after buying an additional 48,916 shares during the last quarter. Janus Capital Management LLC boosted its position in shares of Trex by 1.6% in the second quarter. Janus Capital Management LLC now owns 1,411,277 shares of the company’s stock worth $63,395,000 after buying an additional 22,184 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of Trex by 11.4% in the second quarter. Eagle Asset Management Inc. now owns 678,636 shares of the company’s stock worth $30,484,000 after buying an additional 69,664 shares during the last quarter. State Street Corp boosted 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 worth $28,531,000 after buying an additional 68,782 shares during the last quarter. Finally, Conestoga Capital Advisors LLC boosted its position in shares of Trex by 2.2% in the third quarter. Conestoga Capital Advisors LLC now owns 594,738 shares of the company’s stock worth $34,923,000 after buying an additional 12,570 shares during the last quarter. 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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