Trex (NYSE:TREX) Receives Neutral Rating from UBS Group

Trex (NYSE:TREX)‘s stock had its “neutral” rating reissued by UBS Group in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. They currently have a $74.00 price objective on the construction company’s stock, up from their previous price objective of $72.00. UBS Group’s target price suggests a potential upside of 12.29% from the stock’s previous close.

A number of other research firms also recently issued reports on TREX. Stephens cut their price target on Trex from $73.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, May 12th. B. Riley upgraded Trex to a “strong-buy” rating in a research note on Monday, July 21st. Loop Capital lifted their price target on Trex from $62.00 to $66.00 and gave the company a “hold” rating in a research note on Thursday, July 10th. Robert W. Baird upgraded Trex from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $65.00 to $75.00 in a research note on Thursday, July 10th. Finally, BMO Capital Markets upgraded Trex from a “market perform” rating to an “outperform” rating and set a $72.00 price target for the company in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.44.

Trex Stock Up 2.5%

Shares of NYSE:TREX opened at $65.90 on Tuesday. The firm has a market cap of $7.07 billion, a P/E ratio of 38.09, a P/E/G ratio of 2.71 and a beta of 1.51. Trex has a 12-month low of $49.01 and a 12-month high of $80.74. The business has a fifty day simple moving average of $59.37 and a 200 day simple moving average of $60.50.

Trex (NYSE:TREX) last issued its earnings results on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Trex had a return on equity of 21.92% and a net margin of 16.53%. The business had revenue of $339.99 million during the quarter, compared to analyst estimates of $329.11 million. During the same period in the previous year, the company posted $0.82 EPS. The firm’s revenue was down 9.0% compared to the same quarter last year. As a group, equities research analysts expect that Trex will post 2.04 EPS for the current year.

Insider Buying and Selling at Trex

In other news, SVP Amy M. Fernandez sold 2,366 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $61.17, for a total value of $144,728.22. Following the transaction, the senior vice president owned 24,569 shares of the company’s stock, valued at approximately $1,502,885.73. This represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jacob T. Rudolph sold 1,500 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the completion of the transaction, the senior vice president directly owned 27,527 shares in the company, valued at approximately $1,659,052.29. The trade was a 5.17% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC boosted its holdings in shares of Trex by 14.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,757 shares of the construction company’s stock worth $397,000 after purchasing an additional 747 shares during the period. Huntington National Bank boosted its holdings in shares of Trex by 227.2% during the fourth quarter. Huntington National Bank now owns 566 shares of the construction company’s stock worth $39,000 after purchasing an additional 393 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Trex by 1.8% during the fourth quarter. Wells Fargo & Company MN now owns 159,583 shares of the construction company’s stock worth $11,016,000 after purchasing an additional 2,799 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in shares of Trex during the fourth quarter worth about $122,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Trex by 8.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 327,247 shares of the construction company’s stock worth $22,590,000 after purchasing an additional 25,540 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

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.