Trex (NYSE:TREX) Upgraded at Wall Street Zen

Key Points

• Trex has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, with additional analysts also providing varied ratings and price targets for the stock.
• The company reported $0.74 EPS for the last quarter, exceeding expectations, while revenue increased by 3.0% year-over-year to $387.80 million.
• Institutional investors hold 95.96% of Trex's stock, with several firms increasing their stakes recently, reflecting growing interest in the company.

Wall Street Zen upgraded shares of Trex (NYSE:TREX - Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Other equities research analysts also recently issued research reports about the stock. Stephens cut 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 report on Monday, May 12th. Citigroup lowered 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. Benchmark reiterated a "buy" rating and set a $80.00 price objective on shares of Trex in a research note on Monday, May 12th. Robert W. Baird upgraded shares of Trex from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $65.00 to $75.00 in a research report on Thursday, July 10th. Finally, B. Riley upgraded shares of Trex to a "strong-buy" rating in a research report on Monday, July 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $71.93.

Trex Stock Performance

Shares of NYSE TREX traded down $1.66 during trading hours on Friday, hitting $59.80. The company's stock had a trading volume of 1,548,672 shares, compared to its average volume of 1,552,238. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 2.50 and a beta of 1.51. Trex has a 12 month low of $49.01 and a 12 month high of $80.74. The business has a 50-day simple moving average of $59.65 and a 200-day simple moving average of $60.16.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The construction company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. Trex had a net margin of 16.53% and a return on equity of 21.27%. The business had revenue of $387.80 million during the quarter, compared to analyst estimates of $377.49 million. During the same period last year, the business posted $0.80 earnings per share. Trex's quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Trex will post 2.04 EPS for the current year.

Insider Buying and Selling

In other news, SVP Jacob T. Rudolph sold 1,500 shares of the company's stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 27,527 shares in the company, valued at $1,659,052.29. This represents a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Amy M. Fernandez sold 1,538 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $64.18, for a total value of $98,708.84. Following the completion of the sale, the senior vice president owned 22,953 shares of the company's stock, valued at $1,473,123.54. This trade represents a 6.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,404 shares of company stock valued at $333,842 over the last 90 days. Company insiders own 0.74% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its position in Trex by 132.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,297,863 shares of the construction company's stock worth $424,007,000 after purchasing an additional 4,163,014 shares during the last quarter. Wasatch Advisors LP raised its position in Trex by 12.8% during the fourth quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company's stock worth $317,505,000 after acquiring an additional 523,113 shares during the last quarter. Bamco Inc. NY raised its position in Trex by 6.2% during the fourth quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company's stock worth $148,631,000 after acquiring an additional 126,441 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of Trex by 86.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company's stock valued at $140,064,000 after buying an additional 939,960 shares during the last quarter. Finally, Conestoga Capital Advisors LLC raised its position in shares of Trex by 1.8% in the first quarter. Conestoga Capital Advisors LLC now owns 2,002,468 shares of the construction company's stock valued at $116,343,000 after buying an additional 34,720 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.