Trex (NYSE:TREX) Receives “Buy” Rating from DA Davidson

Trex (NYSE:TREX)‘s stock had its “buy” rating reiterated by equities research analysts at DA Davidson in a report issued on Friday,Benzinga reports. They currently have a $51.00 target price on the construction company’s stock. DA Davidson’s price objective would suggest a potential upside of 27.88% from the company’s current price.

A number of other research firms also recently issued reports on TREX. Benchmark downgraded shares of Trex from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. Loop Capital raised shares of Trex from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $45.00 to $53.00 in a report on Wednesday, February 25th. Weiss Ratings raised shares of Trex from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Barclays reaffirmed an “underweight” rating and set a $36.00 price objective (up from $35.00) on shares of Trex in a report on Monday, May 11th. Finally, Zelman & Associates raised shares of Trex from a “neutral” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Monday, May 18th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.42.

Trex Trading Down 0.6%

Shares of TREX traded down $0.25 during mid-day trading on Friday, reaching $39.88. 264,347 shares of the stock traded hands, compared to its average volume of 1,946,853. The firm has a fifty day moving average price of $39.32 and a 200 day moving average price of $38.69. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 8.22 and a beta of 1.51. Trex has a 1 year low of $29.77 and a 1 year high of $68.78.

Trex (NYSE:TREX) last released its quarterly earnings results on Thursday, May 7th. The construction company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Trex had a net margin of 16.25% and a return on equity of 19.66%. The firm had revenue of $343.40 million during the quarter, compared to analyst estimates of $339.99 million. During the same period in the previous year, the business earned $0.60 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side analysts anticipate that Trex will post 1.68 EPS for the current year.

Institutional Trading of Trex

Several hedge funds have recently added to or reduced their stakes in TREX. Impax Asset Management Group plc increased its position 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 acquiring an additional 932,247 shares during the period. Aquatic Capital Management LLC increased its position in shares of Trex by 194.4% in the third quarter. Aquatic Capital Management LLC now owns 93,815 shares of the construction company’s stock valued at $4,847,000 after acquiring an additional 61,950 shares during the period. Fisher Asset Management LLC increased its position in shares of Trex by 19.0% during the third quarter. Fisher Asset Management LLC now owns 329,124 shares of the construction company’s stock valued at $17,006,000 after buying an additional 52,508 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Trex during the fourth quarter valued at about $4,748,000. Finally, CWM LLC increased its position in shares of Trex by 182.0% during the fourth quarter. CWM LLC now owns 85,995 shares of the construction company’s stock valued at $3,017,000 after buying an additional 55,495 shares during the period. 95.96% of the stock is owned by institutional investors.

About Trex

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.