Trex (NYSE:TREX) Upgraded at Zacks Research

Zacks Research upgraded shares of Trex (NYSE:TREX) from a hold rating to a strong-buy rating in a report issued on Wednesday morning,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. UBS Group reiterated a “buy” rating and set a $61.00 price target (up from $59.00) on shares of Trex in a research note on Tuesday. Zelman & Associates raised Trex from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Monday, May 18th. Wall Street Zen upgraded Trex from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Bank of America boosted their price target on Trex from $42.00 to $44.00 and gave the company an “underperform” rating in a report on Tuesday. Finally, Citigroup restated a “neutral” rating and issued a $52.00 price target (up from $43.00) on shares of Trex in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Trex currently has an average rating of “Hold” and an average target price of $49.00.

Trex Stock Down 1.6%

NYSE TREX opened at $45.07 on Wednesday. The firm has a market capitalization of $4.68 billion, a P/E ratio of 25.18, a PEG ratio of 5.30 and a beta of 1.46. The company has a 50-day moving average price of $43.83 and a 200-day moving average price of $41.30. Trex has a 52 week low of $29.77 and a 52 week high of $68.78.

Trex (NYSE:TREX) last announced its earnings results on Thursday, May 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.08. Trex had a net margin of 16.25% and a return on equity of 19.66%. The company had revenue of $343.40 million during the quarter, compared to analyst estimates of $339.99 million. During the same period in the previous year, the business posted $0.60 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Trex will post 1.77 EPS for the current year.

Insider Activity at Trex

In other news, SVP Jacob T. Rudolph sold 1,400 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $50.00, for a total transaction of $70,000.00. Following the sale, the senior vice president directly owned 36,631 shares in the company, valued at $1,831,550. This trade represents a 3.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Trex

Institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in shares of Trex in the fourth quarter valued at about $27,000. Clearstead Trust LLC bought a new position in shares of Trex in the fourth quarter worth about $33,000. Ascentis Independent Advisors purchased a new stake in shares of Trex during the first quarter worth about $44,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Trex during the fourth quarter worth about $47,000. Finally, Empowered Funds LLC bought a new stake in Trex during the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

About Trex

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.