Trex Company, Inc. (NYSE:TREX) has earned an average rating of “Buy” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $102.00.
Several research analysts recently weighed in on the company. Stifel Nicolaus reiterated 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. Zacks Investment Research upgraded Trex from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Thursday, January 11th. Finally, B. Riley upgraded Trex from a “neutral” rating to a “buy” rating and upped their price target for the stock from $96.00 to $125.00 in a research note on Wednesday, January 3rd.
In related news, Director Patricia B. Robinson sold 3,237 shares of the stock in a transaction on Friday, April 6th. The stock was sold at an average price of $112.14, for a total value of $362,997.18. Following the transaction, the director now owns 14,901 shares of the company’s stock, valued at $1,670,998.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jay M. Gratz sold 2,322 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $111.79, for a total value of $259,576.38. Following the completion of the transaction, the director now directly owns 7,643 shares in the company, valued at approximately $854,410.97. The disclosure for this sale can be found here. Insiders have sold 41,534 shares of company stock worth $4,458,727 over the last 90 days. 1.17% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Trex by 27.7% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,546 shares of the construction company’s stock worth $228,000 after purchasing an additional 553 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Trex by 15.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 4,741 shares of the construction company’s stock worth $514,000 after purchasing an additional 622 shares during the last quarter. AGF Investments Inc. grew its holdings in shares of Trex by 4.2% during the fourth quarter. AGF Investments Inc. now owns 15,410 shares of the construction company’s stock worth $1,670,000 after buying an additional 624 shares during the last quarter. Profund Advisors LLC grew its holdings in shares of Trex by 17.5% during the fourth quarter. Profund Advisors LLC now owns 4,652 shares of the construction company’s stock worth $504,000 after buying an additional 692 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Trex by 6.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the construction company’s stock worth $1,377,000 after buying an additional 800 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.
Shares of Trex stock opened at $104.03 on Friday. The company has a market capitalization of $3,110.01, a P/E ratio of 33.44 and a beta of 2.25. Trex has a fifty-two week low of $61.57 and a fifty-two week high of $120.40.
Trex (NYSE:TREX) last issued its quarterly earnings data on Wednesday, February 21st. The construction company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. The company had revenue of $122.21 million during the quarter, compared to analyst estimates of $118.48 million. Trex had a return on equity of 46.94% and a net margin of 16.83%. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.43 earnings per share. analysts anticipate that Trex will post 4.2 EPS for the current fiscal year.
Trex declared that its board has approved a share repurchase program on Wednesday, February 21st that permits the company to buyback 2,900,000 outstanding shares. This buyback authorization permits the construction company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
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Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.
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