BidaskClub cut shares of Trex Company, Inc. (NYSE:TREX) from a strong-buy rating to a buy rating in a report issued on Tuesday morning.

A number of other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Trex from a hold rating to a buy rating and set a $79.00 target price on the stock in a research note on Wednesday, April 26th. Seaport Global Securities upgraded shares of Trex from a neutral rating to a buy rating and set a $74.00 target price on the stock in a research note on Thursday, June 1st. Stifel Nicolaus reiterated a hold rating and issued a $70.00 target price on shares of Trex in a research note on Friday, July 14th. Finally, Sidoti started coverage on shares of Trex in a research note on Thursday, June 15th. They issued a buy rating on the stock. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $75.20.

Trex (NYSE:TREX) opened at 73.05 on Tuesday. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 28.01 and a beta of 2.36. The stock’s 50 day moving average price is $73.95 and its 200 day moving average price is $69.69. Trex has a 52-week low of $50.81 and a 52-week high of $82.04.

Trex (NYSE:TREX) last posted its earnings results on Monday, July 31st. The construction company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Trex had a net margin of 15.12% and a return on equity of 56.76%. The business had revenue of $158 million for the quarter, compared to analyst estimates of $160.40 million. During the same period last year, the business posted $0.79 EPS. Trex’s revenue was up 7.9% compared to the same quarter last year. On average, analysts forecast that Trex will post $2.99 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Trex Company, Inc. (TREX) Cut to Buy at BidaskClub” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another domain, it was illegally stolen and republished in violation of US and international copyright & trademark law. The original version of this story can be accessed at https://www.thecerbatgem.com/2017/08/26/trex-company-inc-trex-cut-to-buy-at-bidaskclub.html.

In other Trex news, Director Frank H. Merlotti, Jr. sold 2,093 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $75.71, for a total value of $158,461.03. Following the sale, the director now directly owns 12,640 shares in the company, valued at approximately $956,974.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard E. Posey sold 3,167 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $80.00, for a total transaction of $253,360.00. Following the completion of the sale, the director now owns 11,795 shares in the company, valued at $943,600. The disclosure for this sale can be found here. Insiders sold a total of 14,680 shares of company stock worth $1,145,196 over the last quarter. 0.95% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Geneva Advisors LLC raised its stake in Trex by 6.1% in the first quarter. Geneva Advisors LLC now owns 16,853 shares of the construction company’s stock valued at $1,169,000 after buying an additional 964 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its stake in Trex by 1.7% in the first quarter. Kornitzer Capital Management Inc. KS now owns 161,685 shares of the construction company’s stock valued at $11,219,000 after buying an additional 2,720 shares in the last quarter. Capital Insight Partners LLC raised its stake in Trex by 2.6% in the first quarter. Capital Insight Partners LLC now owns 16,889 shares of the construction company’s stock valued at $1,172,000 after buying an additional 420 shares in the last quarter. Whittier Trust Co. bought a new stake in Trex during the first quarter valued at about $103,000. Finally, Russell Investments Group Ltd. raised its stake in Trex by 154.8% in the first quarter. Russell Investments Group Ltd. now owns 4,916 shares of the construction company’s stock valued at $341,000 after buying an additional 2,987 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

Trex Company Profile

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.

Analyst Recommendations for Trex (NYSE:TREX)

Receive News & Stock Ratings for Trex Company Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trex Company Inc. and related stocks with our FREE daily email newsletter.