Trex Company Inc (TREX) Trimmed to “Hold” at Zacks Investment Research

Trex Company Inc (TREX) Trimmed to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Trex Company Inc (NYSE:TREX) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

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

Several other equities research analysts also recently weighed in on TREX. FBR & Co upped their target price on shares of Trex Company from $61.00 to $69.00 and gave the stock a mkt perform rating in a research note on Tuesday, February 28th. Stifel Nicolaus upped their target price on shares of Trex Company from $60.00 to $70.00 and gave the stock a hold rating in a research note on Wednesday, February 22nd. Finally, Griffin Securities reaffirmed a buy rating on shares of Trex Company in a research note on Wednesday, March 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $68.40.

Shares of Trex Company (TREX) opened at 66.55 on Tuesday. The firm’s 50-day moving average is $67.64 and its 200-day moving average is $68.17. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 27.19 and a beta of 2.33. Trex Company has a 52 week low of $39.74 and a 52 week high of $78.16.

Trex Company (NYSE:TREX) last announced its earnings results on Thursday, May 4th. The construction company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.07. Trex Company had a net margin of 13.02% and a return on equity of 65.45%. The firm had revenue of $144.80 million for the quarter, compared to the consensus estimate of $144.26 million. During the same period in the prior year, the firm earned $0.79 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. Analysts forecast that Trex Company will post $2.86 earnings per share for the current fiscal year.

In other Trex Company news, Director Frank H. Merlotti, Jr. sold 2,057 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $63.81, for a total value of $131,257.17. Following the sale, the director now directly owns 11,718 shares of the company’s stock, valued at approximately $747,725.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James E. Cline sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $65.00, for a total transaction of $975,000.00. Following the completion of the sale, the insider now directly owns 53,381 shares in the company, valued at $3,469,765. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,557 shares of company stock worth $1,332,987. Insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Trex Company by 132,134.8% in the first quarter. BlackRock Inc. now owns 3,715,799 shares of the construction company’s stock valued at $257,840,000 after buying an additional 3,712,989 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Trex Company by 6.5% in the first quarter. Vanguard Group Inc. now owns 3,251,958 shares of the construction company’s stock valued at $225,653,000 after buying an additional 197,846 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of Trex Company by 3.5% in the first quarter. Eagle Asset Management Inc. now owns 889,298 shares of the construction company’s stock valued at $61,708,000 after buying an additional 29,735 shares during the last quarter. State Street Corp boosted its position in shares of Trex Company by 7.7% in the first quarter. State Street Corp now owns 691,675 shares of the construction company’s stock valued at $47,999,000 after buying an additional 49,301 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Trex Company by 24.5% in the first quarter. JPMorgan Chase & Co. now owns 548,749 shares of the construction company’s stock valued at $38,078,000 after buying an additional 108,158 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

About Trex Company

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TREX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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