Trex (NYSE:TREX) Upgraded at DA Davidson

DA Davidson upgraded shares of Trex (NYSE:TREX) from a neutral rating to a buy rating in a research report sent to investors on Monday morning, Marketbeat.com reports. The firm currently has $50.00 price target on the construction company’s stock, up from their prior price target of $45.00.

Several other brokerages have also recently issued reports on TREX. Vertical Research cut Trex from a “buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a research note on Wednesday, November 5th. The Goldman Sachs Group set a $54.00 price target on shares of Trex and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Benchmark lowered their price objective on shares of Trex from $80.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Zelman & Associates lowered shares of Trex from an “outperform” rating to a “neutral” rating in a research note on Wednesday, November 5th. Finally, Citigroup decreased their target price on Trex from $52.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $47.25.

Trex Trading Up 1.9%

Shares of NYSE:TREX opened at $42.99 on Monday. The firm has a market cap of $4.61 billion, a PE ratio of 23.36 and a beta of 1.55. The company has a fifty day simple moving average of $34.95 and a 200 day simple moving average of $49.79. Trex has a 12-month low of $29.77 and a 12-month high of $75.55.

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

Insider Activity at Trex

In other Trex news, CFO Prithvi Gandhi purchased 15,000 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were bought at an average price of $31.92 per share, with a total value of $478,800.00. Following the completion of the acquisition, the chief financial officer owned 30,664 shares in the company, valued at approximately $978,794.88. This represents a 95.76% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Trex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. bought a new position in Trex during the 2nd quarter valued at $31,000. Steigerwald Gordon & Koch Inc. bought a new position in Trex during the third quarter valued at about $31,000. Parallel Advisors LLC grew its holdings in Trex by 28.4% during the second quarter. Parallel Advisors LLC now owns 1,049 shares of the construction company’s stock worth $57,000 after acquiring an additional 232 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Trex in the second quarter worth about $60,000. Finally, CWM LLC lifted its holdings in Trex by 16.8% in the 2nd quarter. CWM LLC now owns 1,141 shares of the construction company’s stock valued at $62,000 after acquiring an additional 164 shares during the last quarter. 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.