Trex (NYSE:TREX) Rating Increased to Neutral at Exane BNP Paribas

Trex (NYSE:TREXGet Rating) was upgraded by equities research analysts at Exane BNP Paribas from an “underperform” rating to a “neutral” rating in a research note issued on Friday, The Fly reports.

Other equities analysts have also recently issued reports about the company. Barclays decreased their price target on Trex from $84.00 to $68.00 in a research note on Tuesday, May 10th. B. Riley upgraded Trex from a “neutral” rating to a “buy” rating and set a $88.00 price objective on the stock in a research report on Wednesday, April 6th. Zacks Investment Research lowered Trex from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. Robert W. Baird dropped their price target on Trex from $120.00 to $95.00 in a research report on Tuesday, March 1st. Finally, Credit Suisse Group upgraded Trex from an “underperform” rating to a “neutral” rating and set a $65.00 price target on the stock in a research report on Tuesday, May 10th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Trex has a consensus rating of “Hold” and a consensus target price of $91.39.

Shares of NYSE TREX opened at $61.96 on Friday. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 30.83, a P/E/G ratio of 1.36 and a beta of 1.44. Trex has a 1-year low of $51.76 and a 1-year high of $140.98. The stock’s 50-day moving average is $64.84 and its 200 day moving average is $95.05.

Trex (NYSE:TREXGet Rating) last announced its quarterly earnings results on Monday, May 9th. The construction company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The business had revenue of $339.23 million for the quarter, compared to analysts’ expectations of $326.67 million. Trex had a return on equity of 38.31% and a net margin of 17.90%. The business’s quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. As a group, sell-side analysts anticipate that Trex will post 2.49 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of TREX. Amundi Pioneer Asset Management Inc. increased its position in Trex by 50.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 337,153 shares of the construction company’s stock worth $20,742,000 after buying an additional 113,161 shares in the last quarter. Morgan Stanley boosted its stake in shares of Trex by 49.5% in the second quarter. Morgan Stanley now owns 414,757 shares of the construction company’s stock worth $42,393,000 after acquiring an additional 137,260 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of Trex by 36.7% in the third quarter. O Shaughnessy Asset Management LLC now owns 1,084 shares of the construction company’s stock worth $111,000 after acquiring an additional 291 shares during the period. AlphaCrest Capital Management LLC boosted its stake in Trex by 76.6% during the third quarter. AlphaCrest Capital Management LLC now owns 5,527 shares of the construction company’s stock valued at $563,000 after buying an additional 2,397 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Trex by 2.5% during the third quarter. US Bancorp DE now owns 12,688 shares of the construction company’s stock valued at $1,293,000 after buying an additional 309 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

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.

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