Trex (NYSE:TREX) had its price objective lifted by research analysts at B. Riley from $125.00 to $126.00 in a report issued on Thursday. The firm presently has a “buy” rating on the construction company’s stock. B. Riley’s price target indicates a potential upside of 13.95% from the stock’s current price. B. Riley also issued estimates for Trex’s Q1 2018 earnings at $1.12 EPS, Q2 2018 earnings at $1.23 EPS and Q3 2018 earnings at $0.94 EPS.
A number of other research firms also recently weighed in on TREX. FBR & Co upped their target price on shares of Trex from $80.00 to $96.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. Stifel Nicolaus reduced their target price on shares of Trex from $100.00 to $89.00 and set a “hold” rating on the stock in a research report on Friday, December 8th. Zacks Investment Research downgraded shares of Trex from a “buy” rating to a “hold” rating in a research report on Saturday, November 11th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $95.00 target price on shares of Trex in a research report on Wednesday, November 1st. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $102.14.
Trex (NYSE:TREX) opened at $110.57 on Thursday. The stock has a market cap of $3,130.00, a price-to-earnings ratio of 33.71 and a beta of 2.31. Trex has a 1 year low of $61.57 and a 1 year high of $120.40.
Trex announced that its board has authorized a share buyback program on Wednesday, February 21st that allows the company to repurchase 2,900,000 outstanding shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Jay M. Gratz sold 2,322 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $111.79, for a total value of $259,576.38. Following the sale, the director now directly owns 7,643 shares of the company’s stock, valued at approximately $854,410.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay M. Gratz sold 1,418 shares of the company’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $111.05, for a total transaction of $157,468.90. Following the completion of the sale, the director now directly owns 8,901 shares in the company, valued at $988,456.05. The disclosure for this sale can be found here. Insiders sold a total of 4,798 shares of company stock worth $540,778 over the last ninety days. Insiders own 0.95% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB purchased a new stake in Trex during the 4th quarter valued at about $299,000. MetLife Investment Advisors LLC purchased a new stake in Trex during the 4th quarter valued at about $1,407,000. Gotham Asset Management LLC purchased a new stake in Trex during the 4th quarter valued at about $8,817,000. Millennium Management LLC grew its position in Trex by 318.5% during the 4th quarter. Millennium Management LLC now owns 16,754 shares of the construction company’s stock valued at $1,816,000 after purchasing an additional 12,751 shares during the last quarter. Finally, Teachers Advisors LLC grew its position in Trex by 1.6% during the 4th quarter. Teachers Advisors LLC now owns 261,756 shares of the construction company’s stock valued at $28,372,000 after purchasing an additional 4,029 shares during the last quarter. 90.58% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Trex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trex and related companies with MarketBeat.com's FREE daily email newsletter.