Trex Company, Inc. (NYSE:TREX) Stock Rating Lowered by Griffin Securities
Trex Company, Inc. (NYSE:TREX) was downgraded by research analysts at Griffin Securities from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, August 1st.
Other research analysts also recently issued reports about the company. FBR & Co raised their price objective on Trex from $69.00 to $80.00 and gave the company a “mkt perform” rating in a research note on Tuesday, August 1st. BidaskClub raised Trex from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. Zacks Investment Research raised Trex from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research report on Friday, June 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $70.00 price target on shares of Trex in a research report on Friday, July 14th. Finally, Sidoti assumed coverage on Trex in a research report on Thursday, June 15th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. Trex presently has an average rating of “Buy” and a consensus price target of $75.20.
Trex (TREX) traded down 0.34% during mid-day trading on Tuesday, reaching $73.51. 210,296 shares of the company’s stock traded hands. The stock has a market capitalization of $2.16 billion, a PE ratio of 28.19 and a beta of 2.36. The stock’s 50 day moving average is $73.42 and its 200-day moving average is $69.50. Trex has a 52 week low of $50.81 and a 52 week high of $82.04.
Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, July 31st. The construction company reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.09. The firm had revenue of $158 million for the quarter, compared to analysts’ expectations of $160.40 million. Trex had a return on equity of 56.76% and a net margin of 15.12%. Trex’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted $0.79 EPS. On average, equities analysts anticipate that Trex will post $2.99 EPS for the current year.
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In other Trex news, CFO Bryan Horix Fairbanks sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $75.43, for a total value of $150,860.00. Following the transaction, the chief financial officer now owns 18,167 shares of the company’s stock, valued at $1,370,336.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frank H. Merlotti, Jr. sold 2,093 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $75.71, for a total value of $158,461.03. Following the completion of the transaction, the director now directly owns 12,640 shares in the company, valued at approximately $956,974.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,680 shares of company stock worth $1,145,196. 0.95% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of TREX. Whittier Trust Co. bought a new stake in Trex during the first quarter worth approximately $103,000. Russell Investments Group Ltd. bought a new stake in Trex during the fourth quarter worth approximately $127,000. PNC Financial Services Group Inc. increased its stake in Trex by 2.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock worth $142,000 after buying an additional 56 shares in the last quarter. Riverhead Capital Management LLC increased its stake in Trex by 91.5% in the second quarter. Riverhead Capital Management LLC now owns 2,298 shares of the construction company’s stock worth $156,000 after buying an additional 1,098 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Trex by 12.9% in the second quarter. Victory Capital Management Inc. now owns 2,465 shares of the construction company’s stock worth $167,000 after buying an additional 282 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.
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