Trex (NYSE:TREX) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Trex (NYSE:TREX) from a strong sell rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Bank of America reissued an “underperform” rating and set a $36.00 price objective (down from $67.00) on shares of Trex in a research report on Wednesday, November 5th. Citigroup lowered their price target on Trex from $52.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, December 15th. B. Riley reaffirmed a “buy” rating and set a $57.00 price objective (down from $80.00) on shares of Trex in a research note on Wednesday, November 5th. Wall Street Zen cut Trex from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Finally, Benchmark decreased their price target on Trex from $80.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $47.25.

Trex Stock Performance

Shares of TREX stock traded down $0.77 during mid-day trading on Tuesday, hitting $43.02. 1,935,911 shares of the stock were exchanged, compared to its average volume of 2,089,679. Trex has a 12-month low of $29.77 and a 12-month high of $73.56. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 23.38 and a beta of 1.58. The stock’s fifty day simple moving average is $38.11 and its two-hundred day simple moving average is $47.95.

Trex (NYSE:TREX) last released its quarterly earnings results on Tuesday, November 4th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.06). The firm had revenue of $285.35 million for the quarter, compared to analyst estimates of $301.74 million. Trex had a return on equity of 21.90% and a net margin of 16.76%.The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the firm earned $0.37 EPS. On average, research analysts expect that Trex will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trex news, CFO Prithvi Gandhi acquired 15,000 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were acquired at an average price of $31.92 per share, for a total transaction of $478,800.00. Following the completion of the acquisition, the chief financial officer directly owned 30,664 shares of the company’s stock, valued at $978,794.88. This trade represents a 95.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Trex

Institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of Trex in the 4th quarter valued at $27,000. Steigerwald Gordon & Koch Inc. acquired a new position in Trex in the third quarter valued at $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in Trex during the second quarter valued at about $60,000. Rothschild Investment LLC acquired a new stake in Trex during the third quarter worth about $60,000. Finally, CWM LLC raised its holdings in shares of Trex by 16.8% in the 2nd quarter. CWM LLC now owns 1,141 shares of the construction company’s stock worth $62,000 after purchasing an additional 164 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.