Trex (NYSE:TREX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage currently has a $125.00 price target on the construction company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.16% from the company’s current price.

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

Several other equities analysts have also recently weighed in on TREX. Sidoti cut Trex from a “buy” rating to a “neutral” rating and set a $89.00 price objective on the stock. in a research note on Monday, October 2nd. FBR & Co lifted their target price on Trex from $80.00 to $96.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Stifel Nicolaus reiterated a “hold” rating and set a $89.00 target price on shares of Trex in a research note on Wednesday, November 1st. B. Riley reiterated a “neutral” rating and set a $96.00 target price (up from $80.00) on shares of Trex in a research note on Wednesday, November 1st. Finally, SunTrust Banks reiterated a “hold” rating and set a $95.00 target price on shares of Trex in a research note on Wednesday, November 1st. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $93.88.

Shares of Trex (TREX) traded down $0.47 during trading hours on Thursday, reaching $113.47. The company’s stock had a trading volume of 265,700 shares, compared to its average volume of 371,629. Trex has a fifty-two week low of $61.57 and a fifty-two week high of $120.40. The company has a market cap of $3,430.00, a PE ratio of 36.84 and a beta of 2.43.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, October 30th. The construction company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.13. Trex had a return on equity of 51.30% and a net margin of 16.61%. The business had revenue of $140.19 million for the quarter, compared to analysts’ expectations of $125.30 million. During the same period last year, the business earned $0.26 EPS. The business’s revenue was up 32.0% on a year-over-year basis. sell-side analysts anticipate that Trex will post 3.14 earnings per share for the current year.

In related news, Director Jay M. Gratz sold 1,418 shares of Trex stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $111.05, for a total value of $157,468.90. Following the completion of the sale, the director now owns 8,901 shares of the company’s stock, valued at approximately $988,456.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard E. Posey sold 2,322 shares of Trex stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $111.19, for a total value of $258,183.18. Following the completion of the sale, the director now directly owns 11,591 shares of the company’s stock, valued at approximately $1,288,803.29. The disclosure for this sale can be found here. Insiders have sold a total of 7,014 shares of company stock worth $764,529 over the last quarter. Company insiders own 0.95% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC purchased a new position in Trex during the 2nd quarter valued at about $76,849,000. Teachers Advisors LLC grew its holdings in Trex by 361.9% during the 2nd quarter. Teachers Advisors LLC now owns 236,664 shares of the construction company’s stock valued at $16,013,000 after buying an additional 185,424 shares in the last quarter. Nationwide Fund Advisors grew its holdings in Trex by 508.6% during the 2nd quarter. Nationwide Fund Advisors now owns 105,793 shares of the construction company’s stock valued at $7,158,000 after buying an additional 88,409 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in Trex by 41.4% during the 2nd quarter. Westwood Holdings Group Inc. now owns 285,829 shares of the construction company’s stock valued at $19,340,000 after buying an additional 83,716 shares in the last quarter. Finally, Wasatch Advisors Inc. grew its holdings in 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 buying an additional 83,274 shares in the last quarter. 88.92% of the stock is owned by institutional investors.

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Trex Company Profile

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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