Zacks Investment Research lowered shares of Trex Co. (NYSE:TREX) from a buy rating to a hold rating in a research note published on Friday.

According to Zacks, “Trex Company, Inc. is a manufacturer of wood-alternative decking and railing. Trex Company, Inc. is based in Winchester, United States. “

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus raised their price objective on Trex from $56.00 to $58.00 and gave the company a hold rating in a report on Wednesday, November 9th. FBR & Co lowered Trex from an outperform rating to a market perform rating and set a $61.00 target price for the company. in a research report on Tuesday, November 22nd. Seaport Global Securities assumed coverage on Trex in a research report on Tuesday, November 22nd. They set a neutral rating for the company. Wedbush raised their target price on Trex from $53.00 to $55.00 and gave the stock a neutral rating in a research report on Wednesday, October 19th. Finally, CL King lowered Trex from a buy rating to a neutral rating in a research report on Wednesday, August 3rd. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Trex presently has a consensus rating of Hold and an average target price of $63.00.

Trex (NYSE:TREX) opened at 67.80 on Friday. The stock’s 50 day moving average price is $59.93 and its 200 day moving average price is $53.78. Trex has a 52-week low of $31.11 and a 52-week high of $72.21. The firm has a market capitalization of $1.99 billion, a PE ratio of 32.83 and a beta of 2.21.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, November 7th. The company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. Trex had a return on equity of 65.45% and a net margin of 13.02%. The company had revenue of $106.20 million for the quarter, compared to the consensus estimate of $105.14 million. During the same quarter last year, the business posted $0.26 EPS. Trex’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts predict that Trex will post $2.43 EPS for the current fiscal year.

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In other news, VP Adam Dante Zambanini sold 5,730 shares of Trex stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $61.61, for a total value of $353,025.30. Following the completion of the transaction, the vice president now directly owns 34,396 shares of the company’s stock, valued at approximately $2,119,137.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frank H. Merlotti, Jr. sold 1,801 shares of Trex stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $66.21, for a total value of $119,244.21. Following the completion of the transaction, the director now directly owns 11,354 shares of the company’s stock, valued at $751,748.34. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of TREX. Fiera Capital Corp purchased a new stake in shares of Trex during the second quarter valued at approximately $12,792,000. Pembroke Management LTD purchased a new stake in shares of Trex during the second quarter valued at approximately $9,060,000. Morgan Stanley increased its stake in shares of Trex by 59.0% in the third quarter. Morgan Stanley now owns 235,872 shares of the company’s stock valued at $13,851,000 after buying an additional 87,552 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of Trex by 11.4% in the second quarter. Eagle Asset Management Inc. now owns 678,636 shares of the company’s stock valued at $30,484,000 after buying an additional 69,664 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Trex by 13.1% in the first quarter. State Street Corp now owns 595,269 shares of the company’s stock valued at $28,531,000 after buying an additional 68,782 shares in the last quarter. 94.33% of the stock is owned by hedge funds and other institutional investors.

About Trex

Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company markets its products under the brand name Trex. The Company offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories. Its decking products include Trex Transcend, Trex Enhance and Trex Select.

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