Trex (NYSE:TREX) Receives New Coverage from Analysts at BNP Paribas

BNP Paribas began coverage on shares of Trex (NYSE:TREX) in a report published on Wednesday, Briefing.com Automated Import reports. The brokerage issued an underperform rating on the construction company’s stock.

TREX has been the topic of several other research reports. Sidoti lowered Trex from a buy rating to a neutral rating and set a $84.00 price target on the stock. in a research report on Tuesday, August 6th. They noted that the move was a valuation call. William Blair started coverage on Trex in a research report on Thursday, August 22nd. They set an outperform rating on the stock. ValuEngine lowered Trex from a sell rating to a strong sell rating in a research report on Wednesday, October 2nd. DA Davidson set a $96.00 price target on Trex and gave the stock a buy rating in a research report on Thursday, August 29th. Finally, Stephens set a $90.00 price target on Trex and gave the stock a hold rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $81.00.

TREX traded up $0.64 during trading on Wednesday, hitting $89.03. 39,934 shares of the stock were exchanged, compared to its average volume of 531,355. The firm has a market capitalization of $5.18 billion, a P/E ratio of 37.89, a PEG ratio of 3.75 and a beta of 1.97. Trex has a 1-year low of $50.88 and a 1-year high of $93.34. The stock has a fifty day moving average price of $87.08 and a two-hundred day moving average price of $74.41. The company has a quick ratio of 2.99, a current ratio of 3.51 and a debt-to-equity ratio of 0.09.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, July 29th. The construction company reported $0.64 EPS for the quarter, hitting the consensus estimate of $0.64. The company had revenue of $206.45 million for the quarter, compared to analyst estimates of $201.70 million. Trex had a return on equity of 35.94% and a net margin of 17.61%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 earnings per share. Analysts predict that Trex will post 2.36 EPS for the current year.

In other Trex news, Director Richard E. Posey sold 3,133 shares of Trex stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $79.19, for a total value of $248,102.27. Following the transaction, the director now directly owns 18,840 shares in the company, valued at approximately $1,491,939.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay M. Gratz sold 2,817 shares of Trex stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $86.67, for a total value of $244,149.39. Following the completion of the transaction, the director now owns 16,515 shares in the company, valued at $1,431,355.05. The disclosure for this sale can be found here. Insiders sold a total of 40,572 shares of company stock worth $3,305,927 over the last quarter. Company insiders own 0.93% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. TRUE Private Wealth Advisors purchased a new stake in shares of Trex in the second quarter valued at approximately $43,000. Advisor Group Inc. boosted its stake in shares of Trex by 31.6% in the second quarter. Advisor Group Inc. now owns 1,009 shares of the construction company’s stock valued at $72,000 after buying an additional 242 shares in the last quarter. ETF Managers Group LLC boosted its stake in shares of Trex by 6.0% in the second quarter. ETF Managers Group LLC now owns 2,790 shares of the construction company’s stock valued at $194,000 after buying an additional 159 shares in the last quarter. DAVENPORT & Co LLC purchased a new stake in shares of Trex in the second quarter valued at approximately $227,000. Finally, Cullinan Associates Inc. purchased a new stake in shares of Trex in the second quarter valued at approximately $229,000. Hedge funds and other institutional investors own 96.86% of the company’s stock.

About Trex

Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

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