Robert W. Baird Upgrades Trex (NYSE:TREX) to Outperform

Trex (NYSE:TREX - Get Free Report) was upgraded by Robert W. Baird from a "neutral" rating to an "outperform" rating in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has a $75.00 target price on the construction company's stock, up from their prior target price of $65.00. Robert W. Baird's price objective indicates a potential upside of 17.23% from the company's previous close.

TREX has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Trex in a report on Tuesday, April 1st. They set a "buy" rating and a $85.00 target price for the company. BMO Capital Markets raised shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price objective for the company in a research note on Thursday, April 17th. Citigroup decreased their price objective on shares of Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Stephens decreased their price objective on shares of Trex from $73.00 to $65.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Finally, Barclays decreased their price objective on shares of Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Trex currently has an average rating of "Hold" and an average target price of $74.88.

Trex Stock Performance

Shares of TREX stock traded down $0.14 during trading hours on Thursday, hitting $63.98. 951,836 shares of the company were exchanged, compared to its average volume of 1,452,557. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 35.17, a P/E/G ratio of 2.55 and a beta of 1.50. Trex has a one year low of $49.01 and a one year high of $86.56. The business's 50-day simple moving average is $57.34 and its two-hundred day simple moving average is $61.10.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $339.99 million for the quarter, compared to analyst estimates of $329.11 million. Trex had a net margin of 17.69% and a return on equity of 22.78%. Trex's revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.82 earnings per share. As a group, analysts anticipate that Trex will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling at Trex

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

Institutional Trading of Trex

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in shares of Trex by 137.7% in the first quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company's stock worth $97,000 after acquiring an additional 965 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Trex by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 12,546 shares of the construction company's stock worth $728,000 after buying an additional 330 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in Trex by 7.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company's stock valued at $1,004,000 after purchasing an additional 969 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Trex by 26.0% in the first quarter. Janney Montgomery Scott LLC now owns 70,990 shares of the construction company's stock valued at $4,125,000 after purchasing an additional 14,670 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Trex by 55.9% in the first quarter. Blue Trust Inc. now owns 1,138 shares of the construction company's stock valued at $66,000 after purchasing an additional 408 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Company Profile

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.