Trex (NYSE:TREX) Rating Increased to Hold at Zacks Research

Trex (NYSE:TREX) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities analysts also recently commented on the stock. Benchmark lowered their target price on shares of Trex from $80.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Barclays set a $32.00 price target on Trex in a research note on Monday, December 8th. Zelman & Associates lowered Trex from an “outperform” rating to a “neutral” rating in a report on Wednesday, November 5th. DA Davidson upgraded Trex from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $45.00 to $50.00 in a report on Monday, January 12th. Finally, JPMorgan Chase & Co. decreased their target price on Trex from $71.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Ten research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $47.25.

Trex Stock Up 3.3%

NYSE TREX opened at $43.81 on Tuesday. The stock has a market capitalization of $4.70 billion, a PE ratio of 23.81 and a beta of 1.58. Trex has a 12-month low of $29.77 and a 12-month high of $73.56. The company has a 50 day moving average price of $38.11 and a two-hundred day moving average price of $47.95.

Trex (NYSE:TREX) last released its quarterly earnings results on Tuesday, November 4th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.06). Trex had a net margin of 16.76% and a return on equity of 21.90%. The business had revenue of $285.35 million for the quarter, compared to the consensus estimate of $301.74 million. During the same quarter in the prior year, the business posted $0.37 EPS. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, equities analysts anticipate that Trex will post 2.04 EPS for the current year.

Insider Buying and Selling at Trex

In other Trex news, CFO Prithvi Gandhi acquired 15,000 shares of Trex stock in a transaction dated Friday, November 14th. The stock was bought at an average cost of $31.92 per share, with a total value of $478,800.00. Following the completion of the transaction, the chief financial officer owned 30,664 shares of the company’s stock, valued at $978,794.88. The trade was a 95.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Trex

Several large investors have recently bought and sold shares of TREX. AQR Capital Management LLC lifted its position in shares of Trex by 17,551.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,598,001 shares of the construction company’s stock worth $81,498,000 after acquiring an additional 1,588,948 shares during the period. Norges Bank bought a new stake in shares of Trex during the second quarter valued at approximately $54,795,000. Impax Asset Management Group plc raised its stake in shares of Trex by 93.0% in the third quarter. Impax Asset Management Group plc now owns 1,934,581 shares of the construction company’s stock valued at $99,354,000 after purchasing an additional 932,247 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Trex by 86.8% in the third quarter. Wellington Management Group LLP now owns 1,974,096 shares of the construction company’s stock valued at $102,002,000 after purchasing an additional 917,448 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in Trex by 90.6% in the third quarter. Federated Hermes Inc. now owns 1,469,878 shares of the construction company’s stock worth $75,949,000 after purchasing an additional 698,628 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.