Trex Company, Inc. (TREX) Rating Lowered to Hold at Zacks Investment Research
Trex Company, Inc. (NYSE:TREX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.
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 research analysts have also recently issued reports about the company. Griffin Securities cut Trex from a “buy” rating to a “neutral” rating in a report on Tuesday, August 1st. B. Riley reissued a “hold” rating and set a $96.00 price objective on shares of Trex in a report on Wednesday, November 8th. Sidoti cut Trex from a “buy” rating to a “neutral” rating and set a $89.00 price objective for the company. in a report on Monday, October 2nd. FBR & Co lifted their price objective on Trex from $80.00 to $96.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $75.00 price objective on shares of Trex in a report on Thursday, August 3rd. Eight research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $90.00.
Trex (NYSE TREX) opened at $102.79 on Friday. The company has a market capitalization of $3,024.60, a price-to-earnings ratio of 33.92 and a beta of 2.41. Trex has a 12-month low of $61.57 and a 12-month high of $112.39.
Trex (NYSE:TREX) last issued its earnings results on Monday, October 30th. The construction company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.55 by $0.13. The firm had revenue of $140.19 million during the quarter, compared to analysts’ expectations of $125.30 million. Trex had a return on equity of 51.30% and a net margin of 16.61%. Trex’s quarterly revenue was up 32.0% compared to the same quarter last year. During the same period last year, the business earned $0.26 earnings per share. equities analysts predict that Trex will post 3.11 EPS for the current fiscal year.
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In other Trex news, VP Jay T. Scripter sold 1,116 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $108.59, for a total transaction of $121,186.44. Following the transaction, the vice president now owns 14,212 shares in the company, valued at $1,543,281.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Frank H. Merlotti, Jr. sold 2,093 shares of Trex stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $75.71, for a total value of $158,461.03. Following the transaction, the director now owns 12,640 shares in the company, valued at approximately $956,974.40. The disclosure for this sale can be found here. 0.95% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC bought a new position in shares of Trex during the 2nd quarter valued at about $76,849,000. Eagle Asset Management Inc. lifted its holdings in shares of Trex by 4.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 975,160 shares of the construction company’s stock valued at $85,258,000 after purchasing an additional 42,214 shares in the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of Trex by 9.6% during the 2nd quarter. Wasatch Advisors Inc. now owns 946,311 shares of the construction company’s stock valued at $64,027,000 after purchasing an additional 83,274 shares in the last quarter. State Street Corp lifted its holdings in shares of Trex by 4.7% during the 2nd quarter. State Street Corp now owns 724,301 shares of the construction company’s stock valued at $49,003,000 after purchasing an additional 32,626 shares in the last quarter. Finally, Conestoga Capital Advisors LLC lifted its holdings in shares of Trex by 14.4% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 592,634 shares of the construction company’s stock valued at $53,379,000 after purchasing an additional 74,648 shares in the last quarter. Institutional investors and hedge funds own 91.95% of the company’s stock.
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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