Trex Co. (NYSE:TREX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

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 have also recently issued reports on the stock. Wedbush raised their target price on shares of Trex from $53.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, October 19th. Stifel Nicolaus raised their target price on shares of Trex from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Wednesday, November 9th. CL King cut 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. FBR & Co raised their target price on shares of Trex from $50.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. Finally, Seaport Global Securities began coverage on shares of Trex in a report on Tuesday. They issued a “neutral” rating on the stock. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Trex presently has an average 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 Friday. Trex has a 52 week low of $31.11 and a 52 week high of $72.21. The firm’s 50-day moving average is $59.40 and its 200-day moving average is $53.27. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 33.81 and a beta of 2.21.

Trex (NYSE:TREX) last issued its earnings results on Monday, November 7th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the 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 had revenue of $106.20 million for the quarter, compared to analysts’ expectations of $105.14 million. During the same quarter last year, the business earned $0.26 earnings per share. The business’s revenue was up 13.0% on a year-over-year basis. Equities research analysts predict that Trex will post $2.43 earnings per share for the current year.

In other Trex news, VP Adam Dante Zambanini sold 5,730 shares of the firm’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 transaction, the vice president now owns 34,396 shares of the company’s stock, valued at $2,119,137.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank H. Merlotti, Jr. sold 1,801 shares of the firm’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 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. Company insiders own 1.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of TREX. 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 valued at $130,078,000 after buying an additional 48,916 shares in the last quarter. 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 valued at $63,395,000 after buying an additional 22,184 shares in the last quarter. 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 valued at $30,484,000 after buying an additional 69,664 shares in the last quarter. 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 valued at $28,531,000 after buying an additional 68,782 shares in the last quarter. 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 valued at $34,923,000 after buying an additional 12,570 shares in the last quarter. 93.63% of the stock is owned by hedge funds and other 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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