Zacks Investment Research downgraded shares of Trex Company, Inc. (NYSE:TREX) from a buy rating to a hold rating in a research note released on Saturday morning.
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 research firms have also issued reports on TREX. BidaskClub raised Trex from a buy rating to a strong-buy rating in a research note on Friday, September 1st. Stifel Nicolaus reissued a hold rating and set a $70.00 target price on shares of Trex in a research note on Friday, July 14th. Sidoti lowered Trex from a buy rating to a neutral rating and set a $89.00 target price on the stock. in a research note on Monday, October 2nd. FBR & Co increased 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. Finally, Griffin Securities lowered Trex from a buy rating to a neutral rating in a research note on Tuesday, August 1st. Eight equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and an average price target of $90.00.
Trex (NYSE TREX) traded up $0.30 during midday trading on Friday, hitting $102.79. The stock had a trading volume of 224,000 shares, compared to its average volume of 297,959. The stock has a market cap of $3,024.60, a PE ratio of 33.92 and a beta of 2.41. Trex has a fifty-two week low of $61.57 and a fifty-two week high of $112.39.
Trex (NYSE:TREX) last released its quarterly earnings results on Monday, October 30th. The construction company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The business 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%. The company’s revenue was up 32.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 EPS. equities analysts forecast that Trex will post 3.11 earnings per share for the current fiscal year.
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In other Trex news, VP Jay T. Scripter sold 1,116 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $108.59, for a total value of $121,186.44. Following the sale, the vice president now owns 14,212 shares of the company’s stock, valued at approximately $1,543,281.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank H. Merlotti, Jr. sold 2,093 shares of the 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 completion of the sale, the director now directly 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.
A number of hedge funds have recently bought and sold shares of the business. AHL Partners LLP increased its holdings in shares of Trex by 39.7% in the 2nd quarter. AHL Partners LLP now owns 4,617 shares of the construction company’s stock valued at $312,000 after acquiring an additional 1,311 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in shares of Trex by 4.9% in the 2nd quarter. Eagle Asset Management Inc. now owns 932,946 shares of the construction company’s stock valued at $63,123,000 after acquiring an additional 43,648 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Trex by 3.8% in the 1st quarter. AQR Capital Management LLC now owns 28,660 shares of the construction company’s stock valued at $1,989,000 after acquiring an additional 1,039 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its holdings in shares of Trex by 31,908.5% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 33,929 shares of the construction company’s stock valued at $2,295,000 after acquiring an additional 33,823 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new position in shares of Trex in the 2nd quarter valued at about $76,849,000. 91.95% of the stock is currently owned by institutional investors.
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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