Trex (TREX) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Trex (NYSE:TREX) from a hold rating to a buy rating in a report published on Tuesday. They currently have $124.00 price objective on the construction company’s stock.
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 brokerages also recently commented on TREX. Stifel Nicolaus restated a hold rating and issued a $110.00 price objective (up from $100.00) on shares of Trex in a research report on Thursday, February 22nd. B. Riley boosted their price objective on Trex from $125.00 to $126.00 and gave the company a buy rating in a research report on Thursday, February 22nd. SunTrust Banks restated a hold rating and issued a $95.00 price objective on shares of Trex in a research report on Wednesday, November 1st. Finally, FBR & Co boosted their price objective on Trex from $80.00 to $96.00 and gave the company a neutral rating in a research report on Tuesday, October 31st. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Trex presently has an average rating of Buy and a consensus target price of $102.00.
Trex (NYSE:TREX) last announced its quarterly earnings data on Wednesday, February 21st. The construction company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.02. Trex had a return on equity of 46.94% and a net margin of 16.83%. The business had revenue of $122.21 million for the quarter, compared to the consensus estimate of $118.48 million. During the same period in the previous year, the business earned $0.43 earnings per share. The business’s revenue was up 28.2% on a year-over-year basis. equities analysts anticipate that Trex will post 4.09 earnings per share for the current fiscal year.
Trex announced that its board has approved a share repurchase program on Wednesday, February 21st that permits the company to repurchase 2,900,000 outstanding shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In related news, SVP William R. Gupp sold 3,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $105.99, for a total value of $370,965.00. Following the sale, the senior vice president now directly owns 36,438 shares in the company, valued at $3,862,063.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael F. Golden sold 4,051 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $108.06, for a total value of $437,751.06. Following the completion of the sale, the director now owns 4,604 shares in the company, valued at $497,508.24. The disclosure for this sale can be found here. Insiders sold 34,018 shares of company stock worth $3,658,976 over the last quarter. 0.95% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. USA Mutuals Advisors Inc. purchased a new stake in shares of Trex in the fourth quarter worth about $104,000. Bessemer Group Inc. lifted its position in shares of Trex by 352.7% in the third quarter. Bessemer Group Inc. now owns 1,435 shares of the construction company’s stock worth $129,000 after buying an additional 1,118 shares in the last quarter. Greenwood Capital Associates LLC purchased a new stake in shares of Trex in the third quarter worth about $202,000. Everence Capital Management Inc. purchased a new stake in shares of Trex in the third quarter worth about $212,000. Finally, Commerce Bank purchased a new stake in shares of Trex in the fourth quarter worth about $217,000. Institutional investors own 90.58% of the company’s stock.
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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