Seaport Global Securities assumed coverage on shares of Trex Co. (NYSE:TREX) in a research report sent to investors on Tuesday. The brokerage issued a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on TREX. FBR & Co increased their target price on Trex from $50.00 to $60.00 and gave the company an outperform rating in a report on Tuesday, August 2nd. Wedbush cut Trex from an outperform rating to a neutral rating and increased their target price for the company from $50.00 to $53.00 in a report on Wednesday, August 3rd. They noted that the move was a valuation call. CL King cut 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. Zacks Investment Research upgraded Trex from a hold rating to a buy rating and set a $65.00 target price for the company in a report on Thursday, August 4th. Finally, Stifel Nicolaus increased their target price on Trex from $56.00 to $58.00 and gave the company a hold rating in a report on Wednesday, November 9th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $62.75.

Analyst Recommendations for Trex (NYSE:TREX)

Trex (NYSE:TREX) traded up 0.324% during trading on Tuesday, hitting $69.625. The company had a trading volume of 24,766 shares. Trex has a 52-week low of $31.11 and a 52-week high of $72.21. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 33.717 and a beta of 2.21. The firm’s 50 day moving average is $59.09 and its 200-day moving average is $53.15.

Trex (NYSE:TREX) last issued its earnings results on Monday, November 7th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. The company earned $106.20 million during the quarter, compared to analysts’ expectations of $105.14 million. Trex had a return on equity of 65.45% and a net margin of 13.02%. Trex’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 EPS. On average, equities analysts forecast that Trex will post $2.43 earnings per share for the current year.

In related news, VP Adam Dante Zambanini sold 5,730 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $61.61, for a total transaction of $353,025.30. Following the completion of the transaction, the vice president now owns 34,396 shares of the company’s stock, valued at approximately $2,119,137.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frank H. Merlotti, Jr. sold 1,801 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $66.21, for a total value of $119,244.21. Following the transaction, the director now directly 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 insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Fund Advisors raised its position in 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 period. Janus Capital Management LLC raised its position in 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 period. Eagle Asset Management Inc. raised its position in 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 period. State Street Corp raised its position in 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 period. Finally, Conestoga Capital Advisors LLC raised its position in 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 period. 93.63% of the stock is owned by institutional investors.

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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.

5 Day Chart for NYSE:TREX

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