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

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 analysts have also weighed in on TREX. Wedbush lowered shares of Trex from an “outperform” rating to a “neutral” rating and raised their target price for the company from $50.00 to $53.00 in a research report on Wednesday, August 3rd. They noted that the move was a valuation call. CL King lowered 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. Stifel Nicolaus raised their target price on shares of Trex from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, November 9th. FBR & Co lowered shares of Trex from an “outperform” rating to a “market perform” rating and set a $61.00 target price on the stock. in a research report on Tuesday, November 22nd. Finally, Seaport Global Securities initiated coverage on shares of Trex in a research report on Tuesday, November 22nd. They issued a “neutral” rating on the stock. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. Trex has an average rating of “Hold” and a consensus target price of $62.50.

Analyst Recommendations for Trex (NYSE:TREX)

Shares of Trex (NYSE:TREX) opened at 65.79 on Thursday. The company has a market cap of $1.93 billion, a PE ratio of 31.86 and a beta of 2.21. 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 $59.93 and a 200-day moving average of $53.78.

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

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In related news, VP Adam Dante Zambanini sold 5,730 shares of the business’s 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 $2,119,137.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard E. Posey sold 2,180 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $68.44, for a total transaction of $149,199.20. Following the completion of the transaction, the director now owns 16,235 shares in the company, valued at approximately $1,111,123.40. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. 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 during the last quarter. Capstone Asset Management Co. raised its position in 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 during the last quarter. Barclays PLC raised its position in 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 during the last quarter. Victory Capital Management Inc. raised its position in 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 during 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 during the last quarter. Institutional investors and hedge funds own 94.33% of the company’s stock.

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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