Trex (NYSE:TREX) Cut to “Hold” at Zacks Investment Research

Trex (NYSE:TREX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday, November 11th.

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

TREX has been the topic of a number of other research reports. Stifel Nicolaus reiterated a “hold” rating and issued a $75.00 target price on shares of Trex in a report on Thursday, August 3rd. BidaskClub upgraded Trex from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. SunTrust Banks reiterated a “hold” rating and issued a $95.00 target price on shares of Trex in a report on Wednesday, November 1st. Sidoti downgraded Trex from a “buy” rating to a “neutral” rating and set a $89.00 target price on the stock. in a report on Monday, October 2nd. Finally, B. Riley reiterated a “neutral” rating and issued a $96.00 target price (up previously from $80.00) on shares of Trex in a report on Wednesday, November 1st. Eight research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $90.00.

Trex (TREX) traded up $0.85 during midday trading on Friday, reaching $117.76. The company’s stock had a trading volume of 181,963 shares, compared to its average volume of 235,598. The firm has a market cap of $3,470.00, a P/E ratio of 38.19 and a beta of 2.41. Trex has a 12-month low of $61.57 and a 12-month high of $118.65.

Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, October 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.13. The firm had revenue of $140.19 million for the quarter, compared to the consensus estimate of $125.30 million. Trex had a return on equity of 51.30% and a net margin of 16.61%. The business’s revenue for the quarter was up 32.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 EPS. analysts anticipate that Trex will post 3.11 earnings per share for the current year.

In related news, VP Jay T. Scripter sold 1,116 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 14,212 shares in the company, valued at $1,543,281.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard E. Posey sold 2,322 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $111.19, for a total value of $258,183.18. Following the completion of the transaction, the director now owns 11,591 shares in the company, valued at approximately $1,288,803.29. The disclosure for this sale can be found here. Insiders sold 5,596 shares of company stock worth $607,060 in the last 90 days. 0.95% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Alps Advisors Inc. boosted its position in Trex by 0.3% during the second quarter. Alps Advisors Inc. now owns 6,776 shares of the construction company’s stock worth $458,000 after purchasing an additional 18 shares during the period. Pinebridge Investments L.P. boosted its position in Trex by 1.1% during the second quarter. Pinebridge Investments L.P. now owns 3,873 shares of the construction company’s stock worth $262,000 after purchasing an additional 41 shares during the period. PNC Financial Services Group Inc. boosted its position in Trex by 2.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock worth $142,000 after purchasing an additional 56 shares during the period. Virginia Retirement Systems ET AL boosted its position in Trex by 1.6% during the second quarter. Virginia Retirement Systems ET AL now owns 6,200 shares of the construction company’s stock worth $419,000 after purchasing an additional 100 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Trex by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 22,720 shares of the construction company’s stock worth $1,537,000 after purchasing an additional 104 shares during the period. 89.13% of the stock is owned by hedge funds and other institutional investors.

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About Trex

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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