Trex (NYSE:TREX) Raised to Hold at Wall Street Zen

Trex (NYSE:TREX - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

Several other equities research analysts have also weighed in on TREX. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $56.00 target price (up from $49.00) on shares of Trex in a report on Friday. Citigroup reissued a "neutral" rating and set a $43.00 price target (down from $46.00) on shares of Trex in a report on Monday, May 11th. Barclays restated an "underweight" rating and issued a $36.00 price target (up from $35.00) on shares of Trex in a research report on Monday, May 11th. Weiss Ratings raised shares of Trex from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. Finally, Bank of America decreased their price objective on shares of Trex from $43.00 to $42.00 and set an "underperform" rating on the stock in a research note on Monday, April 20th. Ten investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $46.79.

Trex Price Performance

Shares of TREX traded up $0.38 during mid-day trading on Friday, reaching $47.14. The company had a trading volume of 1,541,225 shares, compared to its average volume of 1,681,616. The company has a market capitalization of $4.90 billion, a P/E ratio of 26.34, a P/E/G ratio of 9.58 and a beta of 1.46. Trex has a twelve month low of $29.77 and a twelve month high of $68.78. The company's 50-day moving average is $43.27 and its 200-day moving average is $40.98.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.08. Trex had a return on equity of 19.66% and a net margin of 16.25%.The firm had revenue of $343.40 million for the quarter, compared to analysts' expectations of $339.99 million. During the same period in the prior year, the business posted $0.60 earnings per share. The business's revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts expect that Trex will post 1.68 EPS for the current fiscal year.

Insider Activity at Trex

In related news, SVP Jacob T. Rudolph sold 1,400 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $50.00, for a total transaction of $70,000.00. Following the completion of the sale, the senior vice president directly owned 36,631 shares of the company's stock, valued at $1,831,550. The trade was a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Trex

Institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. lifted its stake in shares of Trex by 1.9% in the 3rd quarter. Alliancebernstein L.P. now owns 7,543,925 shares of the construction company's stock valued at $389,795,000 after purchasing an additional 142,215 shares during the period. Wellington Management Group LLP grew its stake in shares of Trex by 266.0% during the fourth quarter. Wellington Management Group LLP now owns 7,225,393 shares of the construction company's stock worth $253,467,000 after purchasing an additional 5,251,297 shares during the period. AQR Capital Management LLC grew its stake in shares of Trex by 143.8% during the fourth quarter. AQR Capital Management LLC now owns 3,895,534 shares of the construction company's stock worth $136,655,000 after purchasing an additional 2,297,533 shares during the period. Morgan Stanley increased its holdings in Trex by 44.6% in the fourth quarter. Morgan Stanley now owns 2,313,285 shares of the construction company's stock valued at $81,150,000 after purchasing an additional 713,054 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Trex by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,913,263 shares of the construction company's stock valued at $67,132,000 after purchasing an additional 24,892 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

About Trex

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company's core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex's product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.

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