Sidoti Downgrades Trex Company, Inc. (TREX) to Neutral
Trex Company, Inc. (NYSE:TREX) was downgraded by research analysts at Sidoti from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday. They presently have a $89.00 price target on the construction company’s stock. Sidoti’s target price points to a potential upside of 0.98% from the stock’s previous close.
Several other analysts have also weighed in on TREX. Zacks Investment Research lowered Trex from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub upgraded Trex from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $75.00 price target on shares of Trex in a research note on Thursday, August 3rd. Griffin Securities downgraded Trex from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 1st. Finally, FBR & Co boosted their price objective on shares of Trex from $69.00 to $80.00 and gave the stock a “mkt perform” rating in a research report on Tuesday, August 1st. Four research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. Trex has a consensus rating of “Buy” and a consensus price target of $77.50.
Trex (TREX) opened at 88.14 on Monday. Trex has a 52-week low of $50.81 and a 52-week high of $90.09. The stock has a market cap of $2.59 billion, a P/E ratio of 33.80 and a beta of 2.33. The stock has a 50 day moving average price of $79.27 and a 200 day moving average price of $71.94.
Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, July 31st. The construction company reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 $158.00 million during the quarter, compared to the consensus estimate of $160.40 million. During the same quarter last year, the firm posted $0.79 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts forecast that Trex will post $2.99 EPS for the current year.
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In other news, Director Richard E. Posey sold 3,167 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $80.00, for a total value of $253,360.00. Following the completion of the transaction, the director now owns 11,795 shares of the company’s stock, valued at $943,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Bryan Horix Fairbanks sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $75.43, for a total transaction of $150,860.00. Following the transaction, the chief financial officer now directly owns 18,167 shares in the company, valued at approximately $1,370,336.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,680 shares of company stock worth $1,145,196. 0.95% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its stake in Trex by 2.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock worth $142,000 after acquiring an additional 56 shares during the period. Riverhead Capital Management LLC raised its holdings in Trex by 91.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,298 shares of the construction company’s stock valued at $156,000 after acquiring an additional 1,098 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Trex by 12.9% in the 2nd quarter. Victory Capital Management Inc. now owns 2,465 shares of the construction company’s stock valued at $167,000 after acquiring an additional 282 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in Trex in the 1st quarter valued at $177,000. Finally, D.A. Davidson & CO. raised its holdings in Trex by 13.7% in the 2nd quarter. D.A. Davidson & CO. now owns 2,664 shares of the construction company’s stock valued at $180,000 after acquiring an additional 322 shares during the last quarter. Hedge funds and other institutional investors own 91.82% 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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