Trex (NYSE:TREX) Upgraded to Strong-Buy at Baird R W

Trex (NYSE:TREX - Get Free Report) was upgraded by equities researchers at Baird R W from a "hold" rating to a "strong-buy" rating in a note issued to investors on Thursday,Zacks.com reports.

Several other brokerages also recently weighed in on TREX. Stephens reduced their price target on Trex from $73.00 to $65.00 and set an "equal weight" rating for the company in a report on Monday, May 12th. UBS Group decreased their target price on shares of Trex from $74.00 to $72.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Benchmark reiterated a "buy" rating and set a $80.00 price target on shares of Trex in a report on Monday, May 12th. Loop Capital increased their price target on shares of Trex from $62.00 to $66.00 and gave the company a "hold" rating in a report on Thursday. Finally, BMO Capital Markets upgraded shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price objective for the company in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Trex presently has a consensus rating of "Hold" and an average price target of $74.88.

Trex Stock Performance

Shares of TREX opened at $64.12 on Thursday. Trex has a fifty-two week low of $49.01 and a fifty-two week high of $86.56. The firm's 50-day simple moving average is $57.34 and its two-hundred day simple moving average is $61.10. The stock has a market cap of $6.88 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 2.55 and a beta of 1.50.

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 the consensus estimate of $0.58 by $0.02. Trex had a return on equity of 22.78% and a net margin of 17.69%. The company had revenue of $339.99 million for the quarter, compared to the consensus estimate of $329.11 million. During the same quarter in the prior year, the business posted $0.82 EPS. The firm's quarterly revenue was down 9.0% compared to the same quarter last year. Equities research analysts predict that Trex will post 2.04 EPS for the current year.

Insider Buying and Selling at Trex

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

Institutional Trading of Trex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TREX. Huntington National Bank grew its position in shares of Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock valued at $39,000 after acquiring an additional 393 shares during the period. Parallel Advisors LLC lifted its position in Trex by 28.4% during the second quarter. Parallel Advisors LLC now owns 1,049 shares of the construction company's stock valued at $57,000 after purchasing an additional 232 shares in the last quarter. Brooklyn Investment Group grew its holdings in Trex by 35,733.3% during the first quarter. Brooklyn Investment Group now owns 1,075 shares of the construction company's stock valued at $62,000 after purchasing an additional 1,072 shares during the period. Blue Trust Inc. increased its position in Trex by 55.9% in the first quarter. Blue Trust Inc. now owns 1,138 shares of the construction company's stock worth $66,000 after buying an additional 408 shares in the last quarter. Finally, eCIO Inc. purchased a new stake in Trex in the first quarter worth about $77,000. 95.96% of the stock is 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.

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