Trex (NYSE:TREX) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Trex (NYSE:TREX) from a market perform rating to an outperform rating in a research note published on Thursday, Marketbeat Ratings reports. BMO Capital Markets currently has $72.00 price target on the construction company’s stock.

Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Trex from $79.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Truist Financial decreased their price target on shares of Trex from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Barclays cut their price objective on shares of Trex from $67.00 to $54.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Bank of America lowered their target price on Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Finally, StockNews.com downgraded Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $77.18.

Trex Stock Up 4.2 %

TREX stock opened at $55.65 on Thursday. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 2.51 and a beta of 1.62. Trex has a twelve month low of $49.01 and a twelve month high of $94.00. The business has a 50 day moving average price of $58.75 and a two-hundred day moving average price of $66.51.

Trex (NYSE:TREX) last released its earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $167.63 million during the quarter, compared to analysts’ expectations of $160.54 million. On average, equities research analysts anticipate that Trex will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $61.88, for a total transaction of $87,869.60. Following the completion of the transaction, the director now directly owns 1,705 shares in the company, valued at approximately $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Trex

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. raised its holdings in Trex by 54.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock valued at $746,858,000 after buying an additional 3,818,025 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Trex by 463.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company’s stock worth $216,400,000 after purchasing an additional 2,578,734 shares during the period. AustralianSuper Pty Ltd acquired a new stake in Trex in the fourth quarter valued at $110,414,000. Anomaly Capital Management LP lifted its holdings in Trex by 228.2% during the 4th quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company’s stock worth $104,427,000 after buying an additional 1,051,888 shares during the period. Finally, Balyasny Asset Management L.P. increased its stake in shares of Trex by 86.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company’s stock valued at $140,064,000 after buying an additional 939,960 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

About Trex

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, 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.