Trex Co. (NYSE:TREX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage presently has a $78.00 price target on the stock. Zacks Investment Research’s price objective suggests a potential upside of 11.72% from the stock’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. “

TREX has been the subject of several other research reports. FBR & Co cut Trex from an “outperform” rating to a “market perform” rating and set a $61.00 price target for the company. in a research note on Tuesday. Seaport Global Securities started coverage on Trex in a report on Tuesday. They issued a “neutral” rating for the company. Wedbush upped their price objective on Trex from $53.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 19th. CL King lowered 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, Stifel Nicolaus upped their price objective 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. Trex presently has a consensus rating of “Hold” and a consensus target price of $63.00.

Analyst Recommendations for Trex (NYSE:TREX)

Shares of Trex (NYSE:TREX) opened at 69.82 on Thursday. The firm has a 50-day moving average price of $59.40 and a 200 day moving average price of $53.27. The stock has a market cap of $2.05 billion, a PE ratio of 33.81 and a beta of 2.21. Trex has a 12-month low of $31.11 and a 12-month high of $72.21.

Trex (NYSE:TREX) last released its quarterly 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 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 prior year, the business posted $0.26 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities research analysts predict that Trex will post $2.43 EPS for the current fiscal year.

In other news, VP Adam Dante Zambanini sold 5,730 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 34,396 shares of the company’s stock, valued at $2,119,137.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank H. Merlotti, Jr. sold 1,801 shares of the company’s stock in a transaction 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 sale, the director now directly owns 11,354 shares of the company’s stock, valued at $751,748.34. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. State Street Corp increased its stake 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. UBS Group AG increased its stake 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. Riverhead Capital Management LLC acquired a new stake in shares of Trex during the first quarter valued at about $188,000. Barclays PLC increased its stake 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. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Trex by 101.1% in the second quarter. BNP Paribas Arbitrage SA now owns 9,267 shares of the company’s stock valued at $416,000 after buying an additional 4,659 shares in the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

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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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