Trex (TREX) Upgraded to “Buy” at B. Riley

B. Riley upgraded shares of Trex (NYSE:TREX) from a neutral rating to a buy rating in a report published on Wednesday. The firm currently has $125.00 price objective on the construction company’s stock, up from their prior price objective of $96.00.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus reduced their price objective on Trex from $100.00 to $89.00 and set a hold rating on the stock in a report on Friday, December 8th. Sidoti downgraded Trex from a buy rating to a neutral rating and set a $89.00 price objective on the stock. in a report on Monday, October 2nd. FBR & Co upped their price objective on Trex from $80.00 to $96.00 and gave the stock a neutral rating in a report on Tuesday, October 31st. Zacks Investment Research downgraded Trex from a buy rating to a hold rating in a report on Saturday, November 11th. Finally, SunTrust Banks reaffirmed a hold rating and set a $95.00 price objective on shares of Trex in a report on Wednesday, November 1st. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Trex presently has an average rating of Hold and an average target price of $93.63.

Trex (NYSE TREX) traded down $4.76 during midday trading on Wednesday, reaching $109.32. The company had a trading volume of 790,903 shares, compared to its average volume of 535,400. The company has a market cap of $3,220.00, a price-to-earnings ratio of 35.49 and a beta of 2.43. Trex has a 1-year low of $61.57 and a 1-year high of $120.40.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, October 30th. The construction company reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.13. Trex had a return on equity of 51.30% and a net margin of 16.61%. The business had revenue of $140.19 million for the quarter, compared to analyst estimates of $125.30 million. During the same period in the prior year, the company earned $0.26 EPS. Trex’s revenue for the quarter was up 32.0% on a year-over-year basis. equities analysts predict that Trex will post 3.14 EPS for the current year.

In related news, Director Jay M. Gratz sold 1,418 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $111.05, for a total value of $157,468.90. Following the completion of the sale, the director now owns 8,901 shares in the company, valued at approximately $988,456.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard E. Posey sold 2,322 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $111.19, for a total transaction of $258,183.18. Following the completion of the sale, the director now owns 11,591 shares of the company’s stock, valued at approximately $1,288,803.29. The disclosure for this sale can be found here. In the last three months, insiders sold 7,014 shares of company stock worth $764,529. 0.95% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TREX. Bessemer Group Inc. increased its position in shares of Trex by 352.7% in the 3rd quarter. Bessemer Group Inc. now owns 1,435 shares of the construction company’s stock valued at $129,000 after buying an additional 1,118 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of Trex by 91.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,298 shares of the construction company’s stock valued at $156,000 after buying an additional 1,098 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Trex by 12.9% in the 2nd quarter. Victory Capital Management Inc. now owns 2,465 shares of the construction company’s stock valued at $167,000 after buying an additional 282 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Trex by 13.7% in the 2nd quarter. D.A. Davidson & CO. now owns 2,664 shares of the construction company’s stock valued at $180,000 after buying an additional 322 shares in the last quarter. Finally, Greenwood Capital Associates LLC bought a new stake in shares of Trex in the 3rd quarter valued at $202,000. Institutional investors and hedge funds own 88.92% of the company’s stock.

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About Trex

Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.

Analyst Recommendations for Trex (NYSE:TREX)

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