Loop Capital began coverage on shares of Trex (NYSE:TREX) in a research note published on Wednesday, The Fly reports. The firm issued a buy rating on the construction company’s stock.

TREX has been the topic of a number of other reports. Zacks Investment Research lowered Trex from a buy rating to a hold rating in a research note on Friday, February 26th. DA Davidson upped their target price on Trex from $75.00 to $95.00 and gave the stock a neutral rating in a research note on Monday, March 1st. Truist upped their target price on Trex from $73.00 to $100.00 in a research note on Tuesday, February 23rd. Robert W. Baird upped their target price on Trex from $100.00 to $105.00 and gave the stock an outperform rating in a research note on Monday, March 1st. Finally, Barclays upped their target price on Trex from $82.00 to $99.00 and gave the stock an equal weight rating in a research note on Monday, March 1st. Thirteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Trex presently has an average rating of Hold and a consensus target price of $80.28.

NYSE:TREX opened at $94.74 on Wednesday. Trex has a 52-week low of $37.03 and a 52-week high of $107.64. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of 65.56 and a beta of 1.46. The business’s fifty day moving average is $93.52 and its 200 day moving average is $84.64.

Trex (NYSE:TREX) last released its quarterly earnings data on Sunday, February 21st. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Trex had a return on equity of 35.52% and a net margin of 20.53%. The company had revenue of $228.29 million for the quarter, compared to analyst estimates of $215.99 million. During the same period in the previous year, the company posted $0.31 EPS. The firm’s revenue for the quarter was up 38.5% compared to the same quarter last year. On average, sell-side analysts predict that Trex will post 1.54 EPS for the current fiscal year.

In related news, CEO Bryan Horix Fairbanks sold 4,000 shares of the stock in a transaction dated Wednesday, February 24th. The stock was sold at an average price of $92.02, for a total transaction of $368,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James E. Cline sold 12,588 shares of the stock in a transaction dated Wednesday, February 24th. The shares were sold at an average price of $92.13, for a total value of $1,159,732.44. The disclosure for this sale can be found here. Insiders have sold a total of 20,280 shares of company stock valued at $1,860,572 over the last 90 days. 0.79% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in Trex in the 4th quarter worth approximately $104,656,000. Price T Rowe Associates Inc. MD lifted its holdings in Trex by 32.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,071,720 shares of the construction company’s stock worth $257,164,000 after buying an additional 756,914 shares during the period. Alliancebernstein L.P. lifted its holdings in Trex by 7.9% in the 4th quarter. Alliancebernstein L.P. now owns 4,091,737 shares of the construction company’s stock worth $342,560,000 after buying an additional 298,570 shares during the period. Morgan Stanley lifted its holdings in Trex by 444.2% in the 3rd quarter. Morgan Stanley now owns 351,547 shares of the construction company’s stock worth $25,170,000 after buying an additional 286,947 shares during the period. Finally, Strs Ohio lifted its holdings in Trex by 4,277.4% in the 3rd quarter. Strs Ohio now owns 290,395 shares of the construction company’s stock worth $20,792,000 after buying an additional 283,761 shares during the period. Institutional investors own 98.56% of the company’s stock.

Trex Company Profile

Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

Recommended Story: Limitations of the P/E Growth ratio

The Fly

Analyst Recommendations for Trex (NYSE:TREX)

Receive News & Ratings for Trex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trex and related companies with MarketBeat.com's FREE daily email newsletter.