Trex Company, Inc. (NYSE:TREX) had its price objective lifted by FBR & Co from $80.00 to $96.00 in a research note issued to investors on Tuesday morning, Marketbeat.com reports. They currently have a neutral rating on the construction company’s stock.
Several other research analysts have also issued reports on TREX. BidaskClub upgraded Trex from a hold rating to a buy rating in a research report on Wednesday, July 12th. Stifel Nicolaus restated a hold rating and set a $70.00 target price on shares of Trex in a research report on Friday, July 14th. Griffin Securities lowered Trex from a buy rating to a neutral rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered Trex from a buy rating to a hold rating in a research report on Wednesday, August 2nd. Finally, Sidoti lowered Trex from a buy rating to a neutral rating and set a $89.00 target price for the company. in a research report on Monday, October 2nd. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $90.00.
Trex (NYSE TREX) opened at $104.44 on Tuesday. The stock has a market cap of $3,159.06, a PE ratio of 35.43 and a beta of 2.41.
Trex (NYSE:TREX) last announced its earnings results on Monday, October 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.13. Trex had a return on equity of 51.30% and a net margin of 16.61%. The business had revenue of $140.19 million during the quarter, compared to analyst estimates of $125.30 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The company’s revenue for the quarter was up 32.0% compared to the same quarter last year. sell-side analysts predict that Trex will post 3.1 earnings per share for the current year.
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In other Trex news, VP Christopher Paul Gerhard sold 3,920 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $79.69, for a total transaction of $312,384.80. Following the completion of the sale, the vice president now owns 26,560 shares in the company, valued at $2,116,566.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jay T. Scripter sold 1,116 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $108.59, for a total value of $121,186.44. Following the sale, the vice president now owns 14,212 shares of the company’s stock, valued at approximately $1,543,281.08. The disclosure for this sale can be found here. Insiders sold 7,129 shares of company stock valued at $592,032 in the last quarter. 0.95% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. AHL Partners LLP lifted its holdings in Trex by 39.7% during the second quarter. AHL Partners LLP now owns 4,617 shares of the construction company’s stock worth $312,000 after buying an additional 1,311 shares during the period. Eagle Asset Management Inc. lifted its holdings in Trex by 4.9% during the second quarter. Eagle Asset Management Inc. now owns 932,946 shares of the construction company’s stock worth $63,123,000 after buying an additional 43,648 shares during the period. AQR Capital Management LLC lifted its holdings in Trex by 3.8% during the first quarter. AQR Capital Management LLC now owns 28,660 shares of the construction company’s stock worth $1,989,000 after buying an additional 1,039 shares during the period. Old Mutual Global Investors UK Ltd. lifted its holdings in Trex by 31,908.5% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 33,929 shares of the construction company’s stock worth $2,295,000 after buying an additional 33,823 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in Trex during the second quarter worth $76,849,000. Institutional investors own 92.27% of the company’s stock.
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.
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