Trex (NYSE:TREX – Get Rating) was upgraded by equities researchers at Credit Suisse Group from an “underperform” rating to a “neutral” rating in a research note issued to investors on Tuesday, The Fly reports.
Several other research firms also recently weighed in on TREX. Zelman & Associates began coverage on Trex in a research note on Monday, March 14th. They set a “hold” rating for the company. Truist Financial cut their price target on Trex from $120.00 to $90.00 in a research note on Tuesday. DA Davidson reiterated a “neutral” rating on shares of Trex in a research note on Tuesday, March 1st. B. Riley raised Trex from a “neutral” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Wednesday, April 6th. Finally, Zacks Investment Research cut Trex from a “hold” rating to a “sell” rating in a report on Tuesday. Five analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $94.17.
NYSE:TREX traded up $2.95 during trading on Tuesday, reaching $58.63. The company’s stock had a trading volume of 3,683,078 shares, compared to its average volume of 1,406,064. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 32.39, a price-to-earnings-growth ratio of 1.36 and a beta of 1.44. Trex has a 12 month low of $51.76 and a 12 month high of $140.98. The firm has a 50 day moving average of $67.16 and a 200-day moving average of $97.36.
Trex (NYSE:TREX – Get Rating) last posted its quarterly earnings results on Monday, May 9th. The construction company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. The company had revenue of $339.23 million during the quarter, compared to the consensus estimate of $326.67 million. Trex had a return on equity of 36.80% and a net margin of 17.41%. The firm’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. Equities analysts forecast that Trex will post 2.44 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. NN Investment Partners Holdings N.V. purchased a new position in shares of Trex during the 4th quarter valued at about $26,000. UMB Bank N A MO purchased a new position in shares of Trex during the 4th quarter valued at about $32,000. M&R Capital Management Inc. purchased a new position in shares of Trex during the 4th quarter valued at about $41,000. Tobam bought a new position in Trex during the 4th quarter worth approximately $41,000. Finally, Confluence Wealth Services Inc. bought a new position in Trex during the 4th quarter worth approximately $46,000. 93.63% of the stock is currently owned by institutional investors.
Trex Company Profile (Get Rating)
Trex Company, Inc manufactures and distributes decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.