Trex Company, Inc. (TREX) Cut to Buy at BidaskClub
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.
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.
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