Trex Company, Inc. (NYSE:TREX)‘s stock had its “hold” rating reissued by SunTrust Banks, Inc. in a report released on Wednesday, November 1st. They currently have a $95.00 target price on the construction company’s stock. SunTrust Banks, Inc.’s target price would suggest a potential downside of 7.58% from the company’s previous close.
Several other research firms also recently weighed in on TREX. Stifel Nicolaus restated a “hold” rating and set a $89.00 target price on shares of Trex in a report on Wednesday, November 1st. B. Riley restated a “neutral” rating and set a $96.00 target price (up from $80.00) on shares of Trex in a report on Wednesday, November 1st. Sidoti cut shares of Trex from a “buy” rating to a “neutral” rating and set a $89.00 price target on the stock. in a research note on Monday, October 2nd. Zacks Investment Research cut shares of Trex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, FBR & Co raised their price target on shares of Trex from $80.00 to $96.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Eight analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $90.00.
Shares of Trex (NYSE TREX) traded up $0.30 during trading hours on Wednesday, reaching $102.79. 224,000 shares of the company were exchanged, compared to its average volume of 297,959. The firm has a market cap of $3,024.60, a PE 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 announced its quarterly earnings results on Monday, October 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.13. Trex had a net margin of 16.61% and a return on equity of 51.30%. The business had revenue of $140.19 million during the quarter, compared to the consensus estimate of $125.30 million. During the same quarter last year, the firm posted $0.26 EPS. The business’s revenue was up 32.0% compared to the same quarter last year. sell-side analysts predict that Trex will post 3.11 EPS for the current year.
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In other news, Director Frank H. Merlotti, Jr. sold 2,093 shares of Trex stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $75.71, for a total transaction of $158,461.03. Following the sale, the director now owns 12,640 shares in the company, valued at $956,974.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jay T. Scripter sold 1,116 shares of Trex stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $108.59, for a total transaction of $121,186.44. Following the completion of the sale, the vice president now owns 14,212 shares of the company’s stock, valued at approximately $1,543,281.08. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. increased its stake in Trex by 352.7% during the third quarter. Bessemer Group Inc. now owns 1,435 shares of the construction company’s stock valued at $129,000 after purchasing an additional 1,118 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Trex by 2.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock valued at $142,000 after purchasing an additional 56 shares during the last quarter. Greenwood Capital Associates LLC bought a new stake in Trex during the third quarter valued at $202,000. Riverhead Capital Management LLC increased its stake in Trex by 91.5% during the second quarter. Riverhead Capital Management LLC now owns 2,298 shares of the construction company’s stock valued at $156,000 after purchasing an additional 1,098 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in Trex during the third quarter valued at $212,000. Hedge funds and other institutional investors 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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