Trex (NYSE:TREX) Upgraded at Zacks Investment Research

Trex (NYSE:TREX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The brokerage presently has a $97.00 price objective on the construction company’s stock. Zacks Investment Research‘s target price points to a potential upside of 11.62% from the stock’s previous close.

According to Zacks, “Trex Company, Inc. is a manufacturer of wood-alternative decking and railing. Trex Company, Inc. is based in Winchester, United States. “

A number of other brokerages also recently commented on TREX. William Blair began coverage on Trex in a research report on Thursday, August 22nd. They set an “outperform” rating for the company. B. Riley boosted their price objective on Trex from $72.00 to $93.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Deutsche Bank began coverage on Trex in a research report on Wednesday, November 27th. They set a “hold” rating for the company. SunTrust Banks boosted their price objective on Trex from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, October 3rd. They noted that the move was a valuation call. Finally, ValuEngine downgraded Trex from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $85.90.

Shares of NYSE:TREX opened at $86.90 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.52 and a quick ratio of 3.02. The firm has a market capitalization of $5.06 billion, a PE ratio of 36.98, a price-to-earnings-growth ratio of 3.60 and a beta of 1.90. The firm’s 50-day moving average is $87.40 and its two-hundred day moving average is $80.73. Trex has a 1 year low of $53.48 and a 1 year high of $93.63.

Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, October 28th. The construction company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. The company had revenue of $195.00 million for the quarter, compared to analyst estimates of $208.12 million. Trex had a net margin of 18.65% and a return on equity of 35.80%. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. Analysts expect that Trex will post 2.41 EPS for the current fiscal year.

In related news, CFO Bryan Horix Fairbanks sold 11,435 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $83.92, for a total value of $959,625.20. Following the completion of the transaction, the chief financial officer now directly owns 46,318 shares of the company’s stock, valued at $3,887,006.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam Dante Zambanini sold 4,344 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $84.20, for a total value of $365,764.80. Following the completion of the transaction, the insider now directly owns 88,229 shares of the company’s stock, valued at $7,428,881.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,571 shares of company stock valued at $1,558,410. Corporate insiders own 0.93% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP lifted its stake in Trex by 106.8% in the second quarter. Marshall Wace LLP now owns 103,971 shares of the construction company’s stock valued at $7,455,000 after buying an additional 53,707 shares during the last quarter. Boston Private Wealth LLC raised its stake in shares of Trex by 1.2% during the third quarter. Boston Private Wealth LLC now owns 101,121 shares of the construction company’s stock worth $9,195,000 after purchasing an additional 1,175 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Trex during the second quarter worth approximately $4,298,000. Stephens Investment Management Group LLC raised its stake in shares of Trex by 54.0% during the third quarter. Stephens Investment Management Group LLC now owns 569,720 shares of the construction company’s stock worth $51,805,000 after purchasing an additional 199,849 shares during the last quarter. Finally, Comerica Bank raised its stake in shares of Trex by 44.5% during the third quarter. Comerica Bank now owns 105,625 shares of the construction company’s stock worth $9,721,000 after purchasing an additional 32,524 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

Trex Company Profile

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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