Trex (NYSE:TREX) Rating Increased to Outperform at Robert W. Baird

Trex (NYSE:TREX - Get Free Report) was upgraded by stock analysts at Robert W. Baird from a "neutral" rating to an "outperform" rating in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $75.00 price target on the construction company's stock, up from their previous price target of $65.00. Robert W. Baird's price objective would indicate a potential upside of 16.97% from the stock's previous close.

A number of other brokerages have also recently weighed in on TREX. Citigroup dropped their price target on Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Barclays cut their target price on shares of Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Trex in a report on Tuesday, April 1st. They issued a "buy" rating and a $85.00 price target on the stock. Benchmark reissued a "buy" rating and set a $80.00 price objective on shares of Trex in a research note on Monday, May 12th. Finally, BMO Capital Markets raised Trex from a "market perform" rating to an "outperform" rating and set a $72.00 target price on the stock in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $75.94.

Trex Stock Up 6.4%

TREX stock traded up $3.86 on Thursday, reaching $64.12. 2,367,178 shares of the company's stock were exchanged, compared to its average volume of 1,454,427. The stock has a fifty day moving average of $57.34 and a 200-day moving average of $61.10. The firm has a market cap of $6.88 billion, a PE ratio of 35.23, a P/E/G ratio of 2.55 and a beta of 1.50. Trex has a twelve month low of $49.01 and a twelve month high of $86.56.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. Trex had a net margin of 17.69% and a return on equity of 22.78%. The business had revenue of $339.99 million for the quarter, compared to analysts' expectations of $329.11 million. During the same period in the prior year, the company posted $0.82 EPS. The business's revenue for the quarter was down 9.0% on a year-over-year basis. On average, equities research analysts predict that Trex will post 2.04 EPS for the current fiscal year.

Insider Activity at Trex

In related news, SVP Jacob T. Rudolph sold 1,500 shares of Trex stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total value of $90,405.00. Following the transaction, the senior vice president owned 27,527 shares in the company, valued at approximately $1,659,052.29. This trade represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Amy M. Fernandez sold 2,366 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $61.17, for a total value of $144,728.22. Following the sale, the senior vice president directly owned 24,569 shares of the company's stock, valued at approximately $1,502,885.73. This trade represents a 8.78% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company's stock.

Hedge Funds Weigh In On Trex

Large investors have recently modified their holdings of the company. Huntington National Bank raised its holdings in Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company's stock valued at $39,000 after buying an additional 393 shares during the period. Parallel Advisors LLC grew its stake in Trex by 28.4% during the second quarter. Parallel Advisors LLC now owns 1,049 shares of the construction company's stock worth $57,000 after buying an additional 232 shares during the period. Brooklyn Investment Group increased its position in shares of Trex by 35,733.3% in the first quarter. Brooklyn Investment Group now owns 1,075 shares of the construction company's stock worth $62,000 after acquiring an additional 1,072 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Trex by 55.9% in the 1st quarter. Blue Trust Inc. now owns 1,138 shares of the construction company's stock valued at $66,000 after acquiring an additional 408 shares during the period. Finally, eCIO Inc. purchased a new position in shares of Trex in the 1st quarter valued at $77,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

About Trex

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.