Trex (NYSE:TREX) Upgraded at Zacks Research

Zacks Research upgraded shares of Trex (NYSE:TREX) from a strong sell rating to a hold rating in a report published on Tuesday,Zacks.com reports.

A number of other brokerages have also recently commented on TREX. Benchmark reduced their target price on shares of Trex from $80.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Jefferies Financial Group upgraded Trex from a “hold” rating to a “buy” rating and boosted their price target for the company from $39.00 to $42.00 in a research report on Monday, December 15th. Wolfe Research raised Trex from a “peer perform” rating to an “outperform” rating and set a $47.00 price objective for the company in a research note on Wednesday, January 7th. B. Riley reiterated a “buy” rating and issued a $57.00 target price (down from $80.00) on shares of Trex in a research note on Wednesday, November 5th. Finally, Bank of America reissued an “underperform” rating and issued a $36.00 target price (down previously from $67.00) on shares of Trex in a report on Wednesday, November 5th. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $47.25.

Trex Trading Down 1.8%

TREX stock opened at $43.02 on Tuesday. The company has a market capitalization of $4.61 billion, a P/E ratio of 23.38 and a beta of 1.58. The business has a 50 day simple moving average of $38.27 and a 200-day simple moving average of $47.92. Trex has a twelve month low of $29.77 and a twelve month high of $73.56.

Trex (NYSE:TREX) last announced its earnings results on Tuesday, November 4th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.06). The business had revenue of $285.35 million during the quarter, compared to analyst estimates of $301.74 million. Trex had a net margin of 16.76% and a return on equity of 21.90%. The business’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 earnings per share. Research analysts predict that Trex will post 2.04 EPS for the current fiscal year.

Insider Activity

In other Trex news, CFO Prithvi Gandhi purchased 15,000 shares of Trex stock in a transaction dated Friday, November 14th. The stock was acquired at an average cost of $31.92 per share, with a total value of $478,800.00. Following the acquisition, the chief financial officer directly owned 30,664 shares of the company’s stock, valued at $978,794.88. This represents a 95.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Gamco Investors INC. ET AL purchased a new stake in shares of Trex during the 4th quarter worth $5,069,000. Gabelli Funds LLC purchased a new position in shares of Trex in the 4th quarter valued at about $1,754,000. Pinnacle Associates Ltd. lifted its stake in shares of Trex by 0.7% in the fourth quarter. Pinnacle Associates Ltd. now owns 40,285 shares of the construction company’s stock valued at $1,413,000 after purchasing an additional 285 shares during the period. Allworth Financial LP boosted its holdings in Trex by 72.9% during the fourth quarter. Allworth Financial LP now owns 3,733 shares of the construction company’s stock worth $131,000 after buying an additional 1,574 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Trex by 103.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 8,886 shares of the construction company’s stock worth $312,000 after buying an additional 4,514 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Company Profile

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.