Trex (TREX) Stock Rating Upgraded by B. Riley

Trex (NYSE:TREX) was upgraded by equities researchers at B. Riley from a “neutral” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $125.00 price target on the construction company’s stock, up from their previous price target of $96.00. B. Riley’s price target points to a potential upside of 14.52% from the stock’s previous close.

TREX has been the subject of several other reports. Zacks Investment Research downgraded shares of Trex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. SunTrust Banks reaffirmed a “hold” rating and issued a $95.00 price target on shares of Trex in a research note on Wednesday, November 1st. Sidoti downgraded shares of Trex from a “buy” rating to a “neutral” rating and set a $89.00 price target for the company. in a research note on Monday, October 2nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $89.00 price target on shares of Trex in a research note on Wednesday, November 1st. Finally, FBR & Co lifted their price target on shares of Trex from $80.00 to $96.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $93.63.

Trex (NYSE TREX) traded up $0.76 during mid-day trading on Wednesday, reaching $109.15. 236,400 shares of the company traded hands, compared to its average volume of 200,950. The firm has a market capitalization of $3,189.36, a price-to-earnings ratio of 36.02 and a beta of 2.43. Trex has a 1-year low of $61.57 and a 1-year high of $118.65.

Trex (NYSE:TREX) last posted its quarterly earnings results 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 net margin of 16.61% and a return on equity of 51.30%. The firm had revenue of $140.19 million during the quarter, compared to the consensus estimate of $125.30 million. During the same period in the previous year, the firm posted $0.26 earnings per share. The business’s revenue was up 32.0% compared to the same quarter last year. equities research analysts anticipate that Trex will post 3.14 EPS for the current year.

In other news, VP Jay T. Scripter sold 1,116 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were 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 directly owns 14,212 shares of the company’s stock, valued at $1,543,281.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jay M. Gratz sold 1,418 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $111.05, for a total transaction of $157,468.90. Following the sale, the director now directly owns 8,901 shares of the company’s stock, valued at $988,456.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,014 shares of company stock valued at $764,529. 0.95% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in TREX. Schwab Charles Investment Management Inc. boosted its holdings in Trex by 3.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 129,238 shares of the construction company’s stock worth $8,745,000 after purchasing an additional 4,153 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Trex by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 409,255 shares of the construction company’s stock worth $27,690,000 after purchasing an additional 7,240 shares during the last quarter. Legal & General Group Plc boosted its holdings in Trex by 9.5% during the second quarter. Legal & General Group Plc now owns 56,519 shares of the construction company’s stock worth $3,825,000 after purchasing an additional 4,918 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Trex by 52.8% during the second quarter. BNP Paribas Arbitrage SA now owns 9,260 shares of the construction company’s stock worth $627,000 after purchasing an additional 3,198 shares during the last quarter. Finally, Virginia Retirement Systems ET AL boosted its holdings in Trex by 1.6% during the second quarter. Virginia Retirement Systems ET AL now owns 6,200 shares of the construction company’s stock worth $419,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 88.92% of the company’s stock.

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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.

Analyst Recommendations for Trex (NYSE:TREX)

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