Trex (NYSE:TREX) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday, Zacks.com reports.
According to Zacks, "Trex Company, Inc. is a manufacturer of wood-alternative decking and railing. Trex Company, Inc. is based in Winchester, United States. "
Other equities analysts also recently issued reports about the company. Exane BNP Paribas upgraded Trex from an "underperform" rating to a "neutral" rating and set a $71.00 price objective on the stock in a report on Thursday, November 5th. DA Davidson increased their target price on shares of Trex from $65.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, November 3rd. Stifel Nicolaus started coverage on shares of Trex in a research report on Tuesday, October 13th. They set a "buy" rating for the company. UBS Group began coverage on shares of Trex in a research report on Tuesday, December 8th. They set a "buy" rating and a $94.00 price objective for the company. Finally, BMO Capital Markets initiated coverage on shares of Trex in a research report on Wednesday. They issued a "market perform" rating and a $90.00 target price on the stock. Thirteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Trex presently has an average rating of "Hold" and an average target price of $71.66.
Shares of TREX opened at $91.15 on Friday. Trex has a 1-year low of $28.11 and a 1-year high of $93.29. The stock has a market cap of $10.55 billion, a PE ratio of 63.52 and a beta of 1.58. The firm has a 50-day simple moving average of $82.33 and a two-hundred day simple moving average of $74.85.
Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, November 2nd. The construction company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.38 by $0.03. Trex had a net margin of 21.41% and a return on equity of 36.64%. The company had revenue of $232.00 million during the quarter, compared to the consensus estimate of $221.94 million. During the same period last year, the firm earned $0.72 EPS. The company's revenue for the quarter was up 19.0% on a year-over-year basis. Equities analysts forecast that Trex will post 1.45 earnings per share for the current year.
In other Trex news, SVP William R. Gupp sold 7,040 shares of Trex stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $72.16, for a total transaction of $508,006.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.79% of the company's stock.
Several institutional investors have recently bought and sold shares of TREX. NEXT Financial Group Inc purchased a new stake in shares of Trex during the 3rd quarter valued at $26,000. Private Advisor Group LLC purchased a new position in Trex in the 2nd quarter worth $49,000. HM Payson & Co. raised its position in Trex by 100.0% in the 3rd quarter. HM Payson & Co. now owns 400 shares of the construction company's stock worth $29,000 after purchasing an additional 200 shares during the period. Glassman Wealth Services raised its position in Trex by 100.0% in the 3rd quarter. Glassman Wealth Services now owns 430 shares of the construction company's stock worth $31,000 after purchasing an additional 215 shares during the period. Finally, Global Retirement Partners LLC raised its position in Trex by 73.4% in the 3rd quarter. Global Retirement Partners LLC now owns 664 shares of the construction company's stock worth $48,000 after purchasing an additional 281 shares during the period. Institutional investors and hedge funds own 99.72% of the company's stock.
About Trex
Trex Company, Inc manufactures and distributes wood and plastic composite products, and related accessories for residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Select, and Trex Enhance protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.
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